It has now been several weeks since the big guns of the mortgage lending world stripped down those enticing deals from their poster boards and pulled products faster than a hyperactive shoplifter.
But now the smaller building societies are following suit - initially these smaller ships
appeared to have weathered the storm; their own positions being more tenable due to lending being backed by their own deposits.
But supply and demand is a hard task master and somewhat inevitably those borrowers put off by worsening terms on offer from mainstream lenders have been beating a path to the ’boutique’ building societies.
Over 2,000 mortgage products have disappeared in the last four weeks and these smaller lenders are now too reviewing lending criteria or removing products altogether.
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