Hanley Economic Building Society has committed to providing intermediary partners with a minimum of seven days to submit a full mortgage application following any product withdrawal, providing a decision in principle (DIP) has been agreed.
David Lownds, Head of Products and Marketing at Hanley Economic Building Society, said: “Operating in such a highly unpredictable lending environment makes it difficult to offer assurances around the shelf life of any individual product.
“However, by introducing the certainty of a seven-day transition window, we can ensure that our intermediary partners have sufficient time to collate all the necessary documentation to support a full mortgage application and help mitigate disruption for them and their clients.
“We hope this commitment brings some relief in a time-pressured marketplace and we pledge to continue providing advisers with strong lines of communication, transparency and as much notice as possible around any product changes going forward.”
