Whiteaway Laidlaw buys personal loans business
WHITEAWAY Laidlaw, the Manchester bank bought by RBS Equity Finance in a deal worth more than £10m in January, has bought personal loans business Link Loans for an undisclosed sum.
The bank, which has also gained a base at Brentwood following its acquisition of commercial mortgage lender Commercial First business earlier this year, said the deal would allow it to “accelerate its ambitions in the personal lending markets”.
Stephen Johnson, new business director at WLB, said: “WLB has ambitious plans to develop a diversified lending business across a range of commercial and personal lending markets.
“Link Loans has made a real impact in the secured loan market, achieving an enviable reputation for its service delivery and product innovation, and we believe it is a business that will benefit greatly from being part of a specialist bank.”
Philip George, joint managing director at Link loans, added that it was now able to offer a broader product range at more competitive prices.
“We are wasting no time in making this deal work for Link and are delighted to be announcing a complete revamp of our entire product range”.
The bank’s management said that it would also look to rebrand Whiteaway Laidlaw later this year, and bring all of its acquired businesses under one brand name.
