Greenock doorstep lender snapped up by S&U

Motor finance and doorstep lender S&U today said it has bought the home credit business of Greenock-based Ambassador Financial Services.

The West Midlands-based firm did not disclose how much its SD Taylor subsidiary paid for Ambassador, but said the lender had gross assets of about £500,000.

Mike Thompson, managing director of SD Taylor, said the group continued to seek acquisitions in the doorstep lending sector.

He added: “Ambassador Financial Services is an excellent quality business, which will complement our existing growth in the central belt of Scotland.”