View more on these topics

Woolwich reduces funding tranches for broker deals

Woolwich has reduced the funding tranches for its intermediary mortgage products after receiving exceptionally high demand.

The lender, which allows brokers to reserve products by securing funding online, says it has received high demand recently because other lenders have repriced upwards, making its products more competitive.

In order to manage demand, it has reduced the tranches available to brokers for a temporary period.

A spokeswoman for Woolwich says: “We are currently receiving huge demand for our products and have therefore decided to reduce our tranches for a few days to manage this demand.

“We have no current plans to increase the rates on our products.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com