Bank lent millions to company that bought 63 flats from charity and proceeded to evict families and sell properties for profitA bank in the majority taxpayer-owned RBS group lent money to property speculators for a deal that will see dozens of families evicted from their homes,it has emerged, prompting condemnation from the local MP and residents.
NatWest has defended its decision to lend millions of pounds to the firm that bought 63 flats on a London estate so it could evict long-standing tenants and re-sell the homes for a profit, and saying its only responsibility was to the customer who took out the loan.
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Source: theguardian.com