Jobs to go at NatWest Intermediary Solutions
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NatWest Intermediary Solutions has revealed that it is restructuring its business, which will result in some job losses.
The lender told staff today that a number of positions will be placed into consultation, but it has not yet revealed how many.
In May Royal Bank of Scotland announced it was cut 600 jobs as part of its three-year restructuring plan.
A spokesperson for NatWest Intermediary Solutions said: “In May, the RBS Group announced that it would be cutting 600 roles in the UK from its head office division.
“It confirmed that it would work through a process with people at all affected locations to determine the local impact of this.
“Today’s announcement is an ongoing part of this overall review process. We will do all we can to support our people and to keep compulsory redundancies to an absolute minimum.”
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Readers' comments (8)
Anonymous | 8 Jun 2010 6:54 pm
Redundancies due to lack of business?Wouldn't have anything to do with dual pricing affecting intermediary supplied business then?
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Anonymous | 8 Jun 2010 6:57 pm
NWIS have some excellent BDMs but it does appear to me they have far too many tiers of management supposedly managing the same - hopefully the reduction of staff will be here rather than at the gras roots.
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Anonymous | 9 Jun 2010 8:22 am
Service levels have always been poor as there are too many chiefs and not enough indians.
I welcome the cutting of all the middle management as long as they leave the real workers to do their job.
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Keith Hood | 9 Jun 2010 9:34 am
Its so sad and so frustrating, these companies just don't get it do they. They offer better products direct, in our area we have no BDM, the service is erratic and they wonder why brokers don't support them.
Lender service in general is terrible, the worst I've ever known. So those with awful service get less and less support - so instead of fixing the problem they make staff reductions and increase it.
I spent hours yesterday trying to find out what deals First Active (the same group) can offer an existing borrower when their fixed rate ends. The client had apparantly tried also and had spent hours on hold, I did too and never did get through. I've emailed, no reply.
Understaffed, demotivated lenders and BDM's and poor management, what a great mix.
I know its chicken and egg, but I believe that if a lender would just grasp the nettle and invest in a well trained BDM, efficent processing and decent products they would get huge support from the broker community. To be fair Platform do seem to be making a good start.
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Anonymous | 9 Jun 2010 11:19 am
Maybe a lot of these lenders are doing enough direct to question the need for an intermediary arm at all.
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Anonymous | 9 Jun 2010 12:36 pm
If, when recommending a mortgage, brokers put more emphasis on service and less on the cheapest rate I expect there would be a rapid improvement in staffing levels and service.
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Anonymous | 9 Jun 2010 1:37 pm
To Keith Hood-If the client is a First Active customer then they should have had a letter through the post confirming that they have withdrawn from lending. It should be on their original offer paper what rate they will automatically be placed on as it was with me.
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Keith Hood | 9 Jun 2010 3:35 pm
To anonymous 1.37pm
Thanks for that. Clients want a fixed rate, although the tracker they will revert to is pretty good.
First Active do however offer products other than the SVR to tempt clients to stay - they have just replied to my email and confirmed this but won't tell me the rates, the clients have to ring in and speak to the "direct sales team". This isn't about data protection as I have not mentioned the clients names, just the LTV, so that they can tell me the rates. I give up!
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