The UK's biggest mortgage lender Halifax has taken over by Lloyds TSB, and it means upto 40k job losses are expected. However this prevent Halifax from collapse. It is quite obvious why Halifax is not doing well and as the UK biggest mortgage lender, we know Halifax doesn't tighten on lender criteria and required a low deposit of 5%. Also, Halifax has a strong portfolio in buy-to-let market, which is quite volatile.
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