Salt has withdrawn all of its product range with immediate effect.
In an email to brokers it says that this is due to unprecedented volumes in the last 24 hours.
Salt says: “Current market conditions have resulted in a number of lenders withdrawing products. This has resulted in an increased appetite for our products and a corresponding record number of applications.”
It adds: “We pride ourselves on our service and such high volumes have inevitably impacted our ability to maintain service levels and deal with current pipeline.”
Salt says that any applications which have not been previously DIP’d on receipt of this email will not be accepted.
Salt says it will be launching a new range of residential and buy to let products on April 7.