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Loanmakers to review business immediately

Loanmakers has said it will be undertaking an immediate review of the business to see how it can alleviate the impact of today’s announcement by Barclays that it will be ceasing accepting new business through First Plus.

The firm says that as First Plus is the leading provider of secured loans to Loanmakers, its withdrawal from the market will adversely affect the company’s business.

Loanmakers says the review will encompass sourcing additional capacity from other providers, as well as a review of the company’s current cost structure.

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