UX Mortgages has postponed the launch of its new product range, making it the latest lender to suffer from jitters in global credit markets.
Earlier today, Infinity Mortgages announced that it would be postponing a product launch, announced last week, because it could not secure sufficient funding.
UX Mortgages was due to launch a new range of products this week and has only secured enough funding for offered cases. No new offers will be made and un-offered applications are unlikely to be approved.
UX Mortgages says the current widening cost of debt in the capital markets mean that it cannot offer any new products in the short-term.
A statement from UX Mortgages says: “Please accept our apologies for the situation. These events are entirely outside our control, however we believe this to be an entirely temporary situation. We expect to release a new product range in the near future when global conditions stabilise.”
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