GE Money Home Lending to be sold

GE Capital has put its specialist lending subsidiary, GE Money Home Lending, up for sale as part of a plan to offload its capital assets.

Related topics:  Mortgages
Amy Loddington
13th April 2015
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The US group revealed plans on Friday to reduce the size of its financial businesses through the sale of most GE Capital assets, including GE Money Home Lending.

The move includes its retreat from the UK market and could lead to the sale of about £10bn of British mortgage assets, which should take about 24 months to complete.

A spokesperson for GE said:

“GE announced that it will create a simpler, more valuable company by reducing the size of GE Capital through the sale of most Capital assets and by focusing on continued investment and growth in its world-class industrial and manufacturing businesses. The sale of these assets is likely to take about 24 months to complete.”

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