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No plans to scrap HBOS brands says Lloyds

Lloyds TSB has confirmed that it has no immediate plans to scrap any of the HBOS brands.

A spokeswoman for Lloyds TSB, says: “They are all iconic brands and carry a lot of weight on their own. At this stage we will not be making any changes, but it is early days.”

But Ray Boulger, senior technical manager at John Charcol, says some of the HBOS brands may be at risk.

He says:”We don’t know the extent at which Lloyds will cannibalise the HBOS proposition. Halifax has such a strong mortgage brand it would be crazy to get rid of it.

“The merger deals say they will retain a presence in Edinburgh so I am guessing they will maintain the Bank of Scotland brand.

“It would be very sensible for Lloyds to keep the Intelligent Finance brand – its offset proposition is far better known than Lloyds and offers a far wider choice.

He adds: “BM Solutions is probably the most difficult one in terms of brands, it operates in areas that C&G are not keen on, which presents a difficulty.

“The main three areas for BM Solutions are buy-to-let, self-cert and sub-prime.

“Buy-to-let is not a problem for Cheltenham & Gloucester but it doesn’t like sub-prime and self-cert.

“I suspect those two areas are the ones that are at the most risk of not continuing.”


Rumours link Nemo to Argos

Nemo Personal Finance is believed to have won out as Argos’ main supplier of secured loans. Central Trust is rumoured to have been appointed secondary partner and will get a percentage of the leads. Nemo would not comment on the rumours while Argos says the deal is still undecided.

Brokers should provide their clients with debt solutions

I have been disturbed by recent comments echoing the siren call that brokers should not help clients faced with crushing debts by giving them the right advice when consolidation has already been ruled out.

Spare a though, no your pennies – save them

As Meltdown Monday drags into Trembling Tuesday there are a lot of
people very angry that Lehman Brothers’ collapse was allowed to happen in the manner it did.


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