Base Commercial Mortgages has suspended all new lending from today, but says it will honour outstanding offers.
The firm has been running for less than a year, having started just as the UK mortgage market began to hit trouble with the collapse of Northern Rock. It says market conditions have driven up costs to such an extent that it is not possible for them to offer viable products. Base says it will work with its investor to source new lower cost funding lines and hopes to return to the market soon. If you would like to comment on this story, contact: John Bakie Tel: 020 7484 9805 e-mail: [email protected] IFAonline
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
