Effective immediately Suffolk Building Society has placed a temporary pause on mortgage applications.
A statement from the society reads: “A recent high volume of business has resulted in our service levels exceeding the timescales we are comfortable with.
“After monitoring the market and careful consideration we are temporarily pausing mortgage applications with immediate effect.
“This is not a decision we have taken lightly and is a temporary measure to enable us to clear our backlog.
“We are working hard to process our existing pipeline and our aim is to get all cases to offer and completion as quickly as possible.
For cases already in progress Suffolk have the following extended deadlines:
• DIPs can be submitted on withdrawn products up to 5pm on Tuesday 9 August.
• Mortgage applications from these previously submitted DIPs can be submitted up to 5pm on Tuesday 16 August.
