Scottish Widows has pulled all mortgages for new customers purchasing and remortgaging as the number of people applying for home loans plummets.
Scottish Widows’ specialism for later life products could also have an impact on the decision, experts say.t and perhaps so it may be that Scottish Widows is focusing on being a recognised specialist lifetime brand rather than struggling to compete in the mainstream markets.”on Friday 17 November but any applications submitted up to Thursday 16 November will be able to proceed to offer and completion as normal.
Strutt said there has been an increase in demand for this type of mortgage as mortgage rates homeowners continue to use their savings to offset the higher interest rates while still having access to their cash. Whilst the narrower niche of offering offset mortgages has helped Scottish Widows to be more flexible and bring in custom it hasn’t always maintained the same profile in recent years.