GE has put its GE Money brand in the UK up for sale.

The move follows CEO Jeff Immelt signalling its divestment of GE Capital, as it seeks to return to concentrate on manufacturing.

It is believed that GE Money Home Lending, the UK mortgage lending brand, which consisted of igroup and First National, has mortgage assets of around £10 billion.

The Financial Times reported that some challenger banks and specialist lenders are in talks with GE about acquiring some of the mortgage assets.