View more on these topics

London Scottish to cease mortgage lending

London Scottish Bank has announced that it will shut down its lending division.

Since pooling its resources into its debt collection arm, Robinson Way, LSB is freezing its mortgage and secured lending service.

Its AGM statement says: “The group is focussed on the development and growth of its successful debt purchase and debt collection division, reducing the capital employed in its lending divisions and, over time, effecting a reduced level of lending and a managed exit from these lending businesses.”

It says: “The mortgages and secured lending division has ceased writing new second charge secured loans but continues to write small volumes of new first charge mortgages.”

Mortgage and secured lending accounted for a £2.1m profit since November 2007, despite a loss of £6.5m.


RBS to distribute shares

RBS directors will meet next month to distribute shares connected to its recent rights issue.

Why your clients need some tough love

In any relationship that matters, professional or personal, you should be upfront with someone if you think they’re making a decision or doing something they might later regret. Being honest with someone and having their best interests at heart, however hard the message, is key to building trust in any relationship. So how does this […]


News and expert analysis straight to your inbox

Sign up