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HBOS customers counselled by brokers

Brokers have reassured potential mortgage customers over the financial footing of HBOS.Britain's biggest lender was taken over by Lloyds TSB last week, after suffering days of steep falls in its share price.Small savers had also been withdrawing their deposits from the firm, as concerns over its financial stability grew.However, mortgage experts have now moved to assuage concerns that HBOS might still be under threat of going bankrupt.Speaking to the Observer, Ray Boulger at brokers John Charcol commented: "Borrowers have absolutely no reason to panic…HBOS will continue to honour mortgage promises already made."David Hollingswoth at fellow brokers London & Country added: "I do not envisage that HBOS will turn around and say 'we're not going to do this deal any more' - and if you are an existing borrower, the merger will have no impact on your mortgage at all."Lloyds bought HBOS for around £12.2 billion - well down on its pre-credit crunch market value.

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