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Nationwide may close processing centres

Five processing centres are being considered for closure by Nationwide.

The UK’s largest mutual is to start a 30-day consultation today as part of a year long plan to streamline the business.

Centres at risk include Belfast, Southampton, Swansea, Rayleigh and Sevenoaks.

Nationwide will not comment on job losses that could result from the closures but says that this does not take in to account any changes that will result from the merger with Derbyshire and Cheshire that was announced earlier this week.

A spokeswoman for the lender says: “This is a bout streamlining the business to become efficient and realise potential economies of scale.”


Skipton offers 95% LTV deals

Skipton is to offer first-time buyers 95% LTV deals through its Mutually Exclusive scheme.From September 15 its account holders can access the deals if they or a family member put 20% of the property’s value into one of the mutual’s savings accounts.

Survey shows gap between demand and approvals

The government’s rescue plan may help at the margins but the big problems will occur next year when the fixed rate mortgages taken out in the first half of last year come to an end.


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