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Citigroup refutes job loss claims

Citigroup has refuted claims that it is to cut up to 15,000 jobs in its impending restructuring next month.

It was reported that increased costs would hit back and middle offices of the group in all its departments in the USA and worldwide, meaning mass relocation or redundancy across all its interests.

However, the group, which owns UK mortgage firms Future Mortgages and Egg, has said that there is no basis to these claims.

Rob McIvor, director of corporate affairs at Citigroup, says: “There will be a expense restructuring to streamline the business.

“To say that there will be job losses as a result of this is highly speculative, I have no clue where the numbers reported have come from.

“On April 16 we will issue our quarterly results and report any changes to the business.

“It is a streamline process; that is a lot more sophisticated than just job losses.”


Spanish property buyers warned

Banco Halifax Hispania is urging Britons looking to buy properties in Spain to work with specialists who are aware of all the necessary rules and regulations. Recent changes in Spanish law mean British buyers must obtain an identification number for non-residents before completing their purchase.

RAMP to offer associate membership to packagers

RAMP is looking to offer associate membership to 10 new mortgage distributors and packagers over the next 12 months. The alliance is keen to target mid sized companies which are finding it hard to invest in systems and compliance but have aspirations to grow in a future regulated packaging market.RAMP says that associate members will […]

Equity release course success

The IFS School of Finance says large numbers of mortgage advisers have already signed up to its Certificate in Regulated Equity Release in advance of regulation next month. From April 6, the sale and marketing of equity release products including lifetime mortgages and home reversion plans will be regulated by the Financial Services Authority. Therefore, […]

GHL offers MPLC fixed

GHL Group has launched a limited availability fixed rate product, funded by Mortgages PLC. The product will be available to all appointed representative and directly authorised intermediaries dealing with GHL.The two-year fixed rate is available up to 90% LTV, with no higher lending charge, It is available on full status and self-cert, with a minimum […]


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