MEX pulls 100% mortgages

Mortgage Express has withdrawn all of its 100%+ and 100% Extra range.

It follows the departure of all supersize, 125% LTV lenders from the market last month.

MEX is also withdrawing all mortgages in its standard, full-status range, its 90% LTV buy-to-let products and its two-year 85% LTV self-cert deals.

But it says it will retain its three-year self-cert deal, also at 85% LTV.

The lender says it will honour all pipeline business and is urging brokers to reserve any deals on its current product range immediately.

Gus Park, director of intermediary sales at MEX, says: “With everyone pulling back from the 100%-plus LTV market, we can’t afford to be left out there alone.”

He adds: “It’s a strategic decision and about managing the flow of business.”