Lloyds Banking Group is shedding a further 420 jobs from its loan business Black Horse Personal Finance.

Earlier this year, Lloyds closed its Black Horse Personal Finance centres around the UK. It has now announced that the brand, which deals in first and second change loans, will no longer write any new business.

David Oldfield, chief operating officer, wholesale at Lloyds Banking Group, said: “Today’s announcement to cease writing new business in the Group’s Black Horse Personal Finance operation follows a strategic review of the business. There will be no effect on Black Horse Motor Finance or existing Black Horse Personal and Retail Finance customers. We will work closely with the impacted employees to help them through these changes.”””