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