Beacon stops new lending
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Beacon Homeloans is understood to have stopped new lending after it sent an email to its packager partners informing them it would be ceasing lending from 27 November.
The email says that Beacon’s current funding line will end in February 2010 and the lender is looking for new sources of funding.
The lender is thought to be the last lender in the self-cert market after Platform withdrew earlier this month.
Beacon was unavailable for comment.
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