In line with its recent pledge to provide ample notice, including a minimum 24-hour notice, when retiring products, the specialist lender Market Harborough Building Society (MHBS) informed its intermediary partners about an impending shift in its fixed rate mortgage rates.
The society communicated this change through an email sent out on the afternoon of Friday, 7th July, specifying that the existing fixed rate mortgage rates would be replaced and withdrawn at 5pm on Monday, 10th July.
Richard Saunders, head of sales at the Society, shed light on the rationale behind the re-pricing, attributing it to the prevailing market conditions.
Saunders said: “We’re re-pricing our range in response to market conditions and have provided our intermediary partners with over 24 hours’ notice to help them submit any cases before the withdrawal.
“We recognise that during this period we need to continue to work closely with them to help deliver the best outcome for their clients.”
