Nationwide confirms chopping agency network in estate agents' offices
Wednesday 24th November 2010Nationwide's nework of 130 agencies, most of which are based in estate agents, definitely face the axe, after the mutual made huge losses on its rock-bottom, over-generous 2.5% tracker rate mortgages.
The agencies facing the chop operate under the Nationwide banner.
The closures were decided in SEptember but confirmed by a Nationwide spokeswoman this morning. They come as part of a slimming-down exercise, after the lender made a loss of £300m in the last six months because most of its customers are on its base rate mortgage, capped at just 2% above Bank of England base rate of 0.5%. Had it charged 4%, it would not have made the loss.
From estateagentoday.co.uk
No comments:
Post a Comment