Lender Suspends New Car Loans in Crown Dependencies
Lloyds Bank subsidiary Black Horse Offshore will stop offering new car loans in the Crown Dependencies, including Jersey, Guernsey, and the Isle of Man.
A subsidiary of Lloyds Bank has announced that it will no longer offer new vehicle loans to customers in the Crown Dependencies.
Black Horse Offshore said that, with the exception of vehicle loans, its other loan products will now be provided by its parent company.
A spokesperson said that a "small number" of employees in Jersey, Guernsey, and the Isle of Man will be affected by these changes.
The company said that existing motor finance customers will continue to be served until their contracts expire, but no additional lending will be offered on existing loans.
It said that the move will result in the Black Horse brand ceasing to exist in the Crown Dependencies.
Lloyds Banking Group said these changes are part of its business development plans.
The spokesperson said, "To achieve the ambitious strategy launched in February 2022 and to provide a better service to our customers, we are making changes to our business."
"We are pleased with our progress, and this latest change to streamline and make our Crown Dependencies business more efficient will enable us to improve the products and services we provide to our customers and consumers."
Customers are advised to contact the company in the usual way with any questions or to discuss changes to their loans or their personal circumstances.
The spokesperson said that support is being provided to affected employees in the Crown Dependencies.
"We will continue to work closely with our recognized unions on changes affecting our colleagues," they added.
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