CHL Mortgages and Moda Mortgages are set to withdraw their current mortgage product ranges on 16 September.

Both lenders say that replacement products will come with higher rates.

CHL Mortgages will withdraw its current buy-to-let range, including product transfers, at 5pm on 16 September.

The lender said a new range, featuring increased rates, will launch at 9am on 17 September.

Intermediaries looking to secure products from the existing CHL range must submit their applications by the 5pm deadline tomorrow.

The lender has also reminded brokers that paying the product fee alone will not be sufficient to secure the rate. Once fees have been paid, cases must be fully submitted and moved beyond the pre-submission stage.

Meanwhile, Moda Mortgages is also withdrawing its core product range at 5pm on 16 September.

A new range with increased rates will be introduced at 9am on 17 September.

As with CHL Mortgages, brokers seeking to secure a product from Moda’s current range must ensure their application has been submitted by the 5pm deadline.

Moda has also stressed that, after paying fees, brokers must fully submit their cases beyond the pre-submission stage in order to secure the applicable rate.

The withdrawals mean brokers have a limited window to secure the lenders’ existing products.