Lenders sell off Connaught loans

Lenders to troubled housing maintenance firm Connaught have begun to sell off their loans to private equity firms. Barclays has already disposed of its exposure, while other non-primary lenders Bank of Ireland and Lloyds are understood to have made moves to sell out. “It’s just a sensible move to get rid of such risky assets,” a person close to the situation said. Meanwhile, Connaught is readying a stock market announcement following auditor Deloitte’s recent review of its accounting practices. The banks and Connaught declined to comment.