Lloyds axes C&G intermediary arm

In a note to brokers, the company announced it would be closing the brand from 31 March, although C&G mortgages will remain available to customers on a direct basis. Today's announcement does not affect the C&G branch network or its savings business. Lloyds also confirmed 570 jobs will be lost across the group as part of wider job cutting measures. The note to brokers states: "There will be no impact on your clients' existing mortgages or on any applications already submitted. Customers can continue to manage their accounts through our branch network and by telephone." The bank ...