In a broker note out on Friday, GE, the parent company of specialist lender GE said it planned to reduce the size of GE Capital through the sale of most GE Capital assets and focus on continued investment and growth in its industrial and manufacturing businesses.

It said: “This will create a simpler, better valued company.”

It said: “We anticipate being able to sell to buyers who are fully committed to and invested in the financial services industry and can offer a good environment for growth.”

It said: “GE Capital is fully committed to serving you during this period and going forward until a sale is complete. Nothing changes in our relationship with you today. All customer agreements will remain in place.”

It added: “In GE Money Home Lending, we have a strong franchise with talented professionals and valuable customer relationships such as yours. We are focused on continuing to deliver for you and helping you grow and meet your goals.”

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No-one was available to comment at GE Money Home Lending.