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Solicitors Practice Funding
Hampshire Trust closed to new Solicitor Practice Funding
Hampshire Trust has undertaken a strategic review of its lending activities and decided to close to new business its solicitor practice funding activities. It will continue to support existing solicitor customers and their clients, ahead of a phased run out over the medium term.
Commenting on the decision, Chief Executive Mark Sismey-Durrant said:
“This decision was taken after carefully evaluating the risks and opportunities available to us in the various markets in which we operate. We concluded that the solicitor funding market no longer provided us with the same scope for profitable expansion as our property finance business which we have engaged in for over 30 years. ”
Hampshire Trust will instead continue the planned expansion of its property development, bridging finance businesses and its retail deposit taking.