FTAdviser.com

Advertising

The lender, which issued a statement to intermediaries after 5pm today, has given advisers until close of business tomorrow (Saturday 10 May) to submit applications.

The lender said existing customers will continue to revert onto standard variable rates.

In a statement to advisers C&G said: "Due to recent competitor movements we have seen a higher volume of applications for our SVMR products, which are primarily designed for existing customers.

"We are withdrawing these products as part of our on-going focus on the service levels we provide to you.

"Do not forget that we have a wide range of fixed rate and tracker products available. With both fee free and short-term options to be had, we have a great choice of products to suit your clients' needs."