ING Deadline sets new deadline for last deals

ING Direct has reinstated a deadline for new mortgage applications and determined that 5 March will be the last opportunity for borrowers to secure a mortgage with it.

ING Direct

The lender previously issued a deadline of 28 February ahead of Barclays acquisition of its £10.9bn deposit book and £5.6bn mortgage book.

Shortly afterwards, intermediaries were informed the deal with Barclays was still subject to legal clearance, meaning the deadline could not longer be guaranteed.

A spokesman for ING Direct says: “Subject to a number of conditions, it is suspected Barclays’ acquisition of ING Direct will be completed by early March so it makes sense to set a date when we will no longer take new applications.”

Barclays confirmed the acquisition of ING Direct was approved by the courts towards the end of last month.

A spokeswoman says: “We are pleased to confirm that Barclays acquisition of ING Direct UK has been approved by the courts. We are yet to confirm business plans but expect to announce a transfer date in early March.”