Furness for Intermediaries has withdrawn from the 90 per cent LTV lending market on a temporary basis.

It says that other lenders pulling their own high-LTV products – including Virgin, Clydesdale, and Accord – has driven a spike in demand for its 90 per cent mortgages that outstrips its service capacity.

This comes on top of the lender having seen “greater than expected application volumes from brokers” upon re-entering the market, says Furness head of intermediaries Alasdair McDonald.

McDonald continues: “We are fully committed to the broker mortgage market and want to support brokers and their clients as much as we possibly can. Once our service levels allow, we hope to be back with 90 per cent LTV products.”