16 Jan, 2008
Powley - 15-Jan-2008
London Scottish Mortgages, part of London Scottish Bank, has
pulled its secured loan range.
The lender wrote to brokers yesterday stating that it would not be
accepting cases submitted after today and will now be focusing on
its first charge business.
But Optoma Broker Solutions has sent a notice round to its partners
that following the announcement by London Scottish yesterday, until
further notice, it will no longer be accepting new first charge
mortgage applications for the lender.
It says it will be sending further communication later this week
clarifying the position with regards to pipeline business but is
currently unable to get a comment from London Scottish.
In a letter to brokers, London Scottish said: "London Scottish
Mortgages regrets to announce that it is suspending second charge
business until further notice. We will now concentrate on first
charge business, with particular emphasis on financing the purchase
of Park Homes."