Lloyds Banking Group, which now owns a Monopoly over the buy-to-let mortgage market, has chosen to refuse to accept new business applications from The Money Centre. They have done this without providing us with an opportunity to meet the decision makers to review their rationale or to appeal their decision.

This is despite the fact that The Money Centre has introduced £866 million of completed mortgage business over the last 5 years to the organisations Lloyds Banking Group now control.

As a result of various banking mergers and takeovers in recent times, mortgages introduced by us to Lloyds brands including Halifax, Birmingham Midshires, Bank of Scotland etc. have accounted for over 40% of our recent business submissions.

Our inability to refer our clients' applications to Lloyds banking group seriously affects our status and our ability to treat customers fairly. Accordingly, the business has been left with no real choice other than to cease providing advice and accepting all new applications with immediate effect.

All existing applications will continue to be processed as normal.

As you might expect, we are considering our position very carefully and we will of course keep you informed as matters progress.

The Money Centre