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Lex exits personal contract hire broker market

Date: 16 July 2009

Lex has pulled out of the personal contract hire broker market on the instruction of new owner Lloyds TSB.

The move was revealed to the firm's broker network at the start of July, according to BusinessCar's sources.

Lex was acquired by Autolease when parent banks HBOS and Lloyds TSB merged late last year.

"Lex are no longer offering personal contract purchase through our broker arm, but currently has no plans or expectations to change the offer of PCH anywhere else in the business," said Lex Autolease boss Nigel Stead.