Mortgage brokers are calling for lenders to provide a minimum of 24 hours notice before withdrawing home loan rates. This request comes after TSB recently discontinued several mortgage products with less than four hours notice. The affected products included two, three, and five-year fixed rate house purchase and remortgage products, as well as certain two-year fixed rate buy-to-let loans. Mortgage brokers argue that customers who do not have sufficient time to submit a full application are experiencing higher interest rates as a result. Other lenders, such as HSBC, have also been accused of providing inadequate notice for rate changes.
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