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Wave suspends new lending

Merrill Lynch has confirmed that its UK subsidiary Wave is temporarily suspending new lending.

A spokesman for Merrill says: “We are temporarily suspending new lending as a result of little sign of recovery in the securitisation and whole loans markets.”

The lender says this will involve “restructuring” but would not confirm suggestions that around 90 staff will be made redundant.

Merrill refused to comment on the future of its other UK lender Mortgages PLC.


CML asserts real aim of BoE scheme

The Council of Mortgage Lenders has asserted that the Bank of England’s Special Liquidity Scheme is designed to improve liquidity in the banking system, not to support the housing market.

The Germans worry like it’s 1929

Kevin Paterson takes a weekly peek at the latest developments in the market and brings you what’s hot and what’s not in the world of mortgages


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