The breathless pace of the secured loan sector

Events have been moving at such a pace that by the time industry comments and analyses are in the press they are already out of date. So I will turn to a sector that has seemingly borne the brunt of the current credit crunch – second charge loans. Most people will be aware of the decision by US investment bank Lehman Bros to withdraw from the secured loans sector by closing London Mortgage Company and Southern Pacific Personal Loans. Kensington Secured Loans is also taking a temporary break from the sector. Money Partners, Prestige, Blemain and GE Money have all contracted their ter...