Home Loan Businesses Overlap
Owner of the Halifax, HBOS, is set to cut back on staff at some of its other departments in order to better organise their mortgage business.
Around 425 jobs are set to go across the HBOS group, though the plan is for most of these employees to be placed into alternative roles within the organisation. The cuts will also see one of their smaller mortgage providers removed altogether, though the Halifax, as the biggest, will not be affected.
A Halifax and HBOS spokesman explained that the different brands they have selling mortgages have too much of an overlap, leading to an inefficient use of resources. By streamlining things in this way both the bank and the customers should see improvements.