Future suspends new business

Future Mortgages has temporarily suspended taking on new business for its 100% LTV mortgage products.

A spokesman says: “We had a relaunch of our product range in April and saw a substantial increase as a result. But to maintainour service levels, with all the applications flooding in at the moment, we have taken the decision to suspend all new business.”

Future, a subsidiary of Citigroup, says the rest of its product range is still available, and expects to be back to business on the 100% side in the new year. All business in the pipeline will be honoured.

In October, Future rebuffed claims its service was in meltdown after it was accused of taking five days to look at cases, not opening its phone lines until 11am and leaving brokers on hold for 35 minutes.