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Mortgage Next directors sued by Scarborough

It seems that while the network was sold in Febuary to Freedom Finance, there had also been a rival bid from the Scarborough.

A writ issued by the society&#39s solicitors Addleshaw Goddard claims it spent £243,000 on external advisers and £102,000 internally as it prepared to buy the broker network.

Mortgage Next declined to comment following legal advice. And the Scarborough is remaining similarly tight-lipped, with a spokeswoman stating that it&#39s the society&#39s policy, “not to make any comment on any transaction that may or may not have happened.”

However one senior society executive told Sunday&#39s Financial Mail: “One wonders quite how the society got so far and spent so much without realising the deal was flaky.”

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