Nearly 500 redundancies as Lloyds sells Halifax Estate Agents for £1

Some 460 jobs are set to go as a result of Lloyd's sale of its estate agents to LSL for a measly quid.

The losses will stem from the closure of banking counters within 121 of HEA’s 218 branches, and a further 1,000 or so estate agency staff will transfer to LSL when the ‘sale’ is completed early next year.

It’s not much of a surprise that Lloyd’s is getting rid of the business; estate agency is hardly a great money spinner at the moment after all, and it only ended up owning the business after its controversial ‘rescue’ of HBOS last year. The bank also has plenty of bigger fish to fry - like trying to avoid getting involved in the government’s toxic assets scheme, for one. Or as the Lloyds statement on the matter drily puts it ‘an estate agency is no longer integral to [our] business model.’

Sign in to continue

Sign in

Trouble signing in?

Reset password: Click here


Call: 020 8267 8121



  • Up to 3 free articles every 90 days
  • Free email bulletins

Register Now

Take a free trial

Get 30 days unrestricted access to:

  • All the latest news, trends, and developments.
  • Exclusive interviews with CEOs and thought-leaders
  • MT Classroom - giving you an academic grounding without expensive courses
  • Management Matters and other in-depth content.
  • Daily bulletins straight to your inbox

Take a free trial today