OSB

Precise Mortgages and OSB brands temporarily suspend new applications



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OneSavings Bank’s lending brands Kent Reliance for Intermediaries and Interbay Commercial have temporarily suspended new applications for all product lines in response to the Covid-19 crisis.

In a statement on each of their websites, they noted that due to the unprecedented demand from their existing borrowers regarding payment holidays, latest government advice and the current situation with valuations, they have taken the decision to temporarily suspend new applications for all product lines, and divert their resources to support their borrowers during this time.

Access to their online application systems were removed on Friday.

In addition, the specialist brands will pause applications that have not progressed to offer, and will place them on hold until further notice.

Valuation and assessment fees will be refunded if the case is cancelled and the valuation has not been completed.

Offered cases will proceed as normal.

Offer extensions can be considered where it is a residential owner occupier case and contracts have exchanged prior to 25th March and their circumstances have not deteriorated.

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