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Loanmakers

  • BY: Andrew Hore |
  • POSTED: 08/07/2008 |

Loanmakers will be hit by the withdrawal of First Plus from the lending market.

First Plus is the secured lending subsidiary of Barclays. It will stop accepting new business on 9 August. The Loanmakers loan packaging business puts a large chunk of its business through First Plus. It will have to find additional lenders to take up the slack.

Even so, this will certainly dent the company’s short-term prospects at a time when trading was tough any way. Costs are under review.

The shares were unchanged at 2.625p but as Loanmakers is valued at £820,000 there isn’t much further to fall. 

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