Investec-backed Infinity Mortgages has postponed the launch of its new product range, suspended offer production and announced it is unable to commit to funding applications not offered.
The lender has previously told the market it would be launching its new range this week, after withdrawing its sub-prime range on August 17 due to the recent market turbulence.
In a statement today, Infinity says that funding has been secured for all offered cases but at the point of offer expiry there may not be a substitute Infinity product available.
Infinity says for cases submitted it has secured products with other providers to minimise the impact on clients.
The statement says: “Please accept our apologies for the situation. However please be assured that these events are entirely outside our control. When global conditions stabilise we are planning to return to the market with new funding options.”