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11 July 2020

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15/01/2008 - EXCLUSIVE: London Scottish withdraws

London Scottish Mortgages has become the latest lender to pull from the secured loans market.

In an announcement just moments ago, the Manchester-based lender told brokers that all cases received on or before Tuesday 15 January 2008 would be honoured but it is unable to remain in the market.

The lender said it is with regret that it has had to make the announcement.

A spokesperson for the business said: Due to current market conditions London Scottish Mortgages regrets to announce that it is suspending second-charge business until further notice.

London Scottish will now concentrate on first charge business with particular emphasis on financing the purchase of park homes.