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This is a baity headline - Virgin Money and Skipton building society have paused. These are small players. When larger banks like Halifax, HSBC etc pause then
by dwroberts 4y ago
This is a baity headline - Virgin Money and Skipton building society have paused. These are small players.
When larger banks like Halifax, HSBC etc pause then we’ll know stuff is going really bad
- shapefrog 4y agoBefore the official pause comes months of banks being awkward with their valuations then being awkward with their afforability interview things. Annecdotally the valuations have been harsh, and the afforability calculations have come back as comically low for a few months now. When the bank tells you that they are pleased to offer to lend you your annual after tax salary, at a rate of Bank+5% they are politely telling you to sod off. Edit: other outlets are also reporting that Halifax, the UK's biggest mortage provider is removing a number of their products for new applicants.
- hanoz 4y agoHalifax, Britain's biggest mortgage lender, is indeed amoungst those that have withdrawn all fixed rate mortgages today.
- tharkun__ 4y agoThis is literally the second paragraph from the article: Halifax, part of Lloyds Banking Group, the biggest mortgage lender in the UK, is also withdrawing a range of new home loans, it told brokers.
- dwroberts 4y agoHope it would be obvious that they updated the article