Fleet Mortgages has withdrawn its entire product range while it waits for more funding.
A broker note issued by the BTL specialist lender states: “We have recently completed £400m of mortgage loans with one of the world’s largest asset managers.
“Due to the launch of our new products in December this tranche of funding was filled much quicker than we initially anticipated. We have therefore had to pull the current product range while we wait for the next funding line to be made available.
“We will keep you fully informed as to when the new product range will be launched.”
Mortgage Strategy understands that Fleet anticipates securing a new funding line soon, and that a new product range will be launched before the end of January.
The new products referred to in the note were announced in mind-December and consist of 65 per cent to 75 per cent LTV fixed-rate mortgages across its standard and limited company ranges.