Virgin Money has decided to temporarily withdraw all its products for new customers at 8pm tonight (26 September).

In statement, the lender said: “This helps us to focus our resources on existing customers and applications already submitted.”

The Product Transfer range for existing customers will remain available.

Brokers who are applying for one of Virgin Money’s new business products on behalf of their customer, have been asked to send the lender the application “as soon as possible”.

The statement added: “We continue to monitor the situation closely and currently plan to relaunch products for new customers towards the end of the week. If you’ve got any questions, you can get in touch with your Business Development Manager or dedicated Regional Service Team. They will do everything they can to help.”