Lehman Brothers considers suspending lending

  • Story by: David Pawsey
  • Magazine: MortgageAdviser
  • Published Monday , March 31, 2008

Lehman Brothers' future in the UK mortgage market has been thrown into doubt following rumours the provider is suspending lending through its two brands.

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A source close to Lehman Brothers told Mortgage Adviser it was considering suspending lending at its two UK divisions, Southern Pacific Mortgage Limited and Preferred Mortgages

In the last six months the US investment bank has been forced to announce two waves of redundancies.

In February the firm cut 200 jobs across its UK mortgage capital business. This followed about 177 people redundancies last year.

Lehman also closed its Southern Pacific Personal Loans and London Mortgage Company brands in 2007.

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