LEHMAN BROTHERS SHUTS DOWN UK MORTGAGE LENDING

Lehman Brothers, the troubled US banker, currently fighting a ¥35.2bn fraud case in Japan is facing further troubles closer to home and is set announce a withdrawal from the UK mortgage market effective April 1st.
Mortgage Solutions is claiming that Southern Pacific Mortgage Limited (SMPL) and Preferred Mortgages - both devisions of Lehman, have indicated they would effectively close their doors on Tuesday.