Mortgages plc and Wave suspend lending

  • Story by: Leah Milner
  • Magazine: FinancialAdviser
  • Published Wednesday , April 30, 2008

Merrill Lynch has confirmed that both of its UK lending arms, Wave and Mortgages plc, have temporarily suspended new lending.

Advertising

Merrill Lynch attributed the suspension to current tough market conditions.

The investment bank refused to comment further on the matter or deny press reports that up to 90 redundancies may result from the move.

The news follows the announcement that both Pink Home Loans and The Mortgage Times Group are consulting staff over potential redundancies. (See earlier article.)

FTAdviser BLOGS RSS

Latest Post  

Threats from the open market

Living Time’s Offer More Options campaign has come on leaps and bounds in the last f... read more

SIGN UP TO NEWS ALERTS