Nationwide to cull 150 mortgage advisers in online shift
Nationwide will axe up to 150 of its mortgage advisers, as the lender shifts to holding online consultations with borrowers instead of than face-to-face meetings.
Many of the 150 mortgage consultants are expected to accept voluntary redundancy, the Mail on Sunday first reported.
Nationwide now carries out more than half of its mortgage consultations through its video conference service, and plans to speak to most of its mortgage customers online in future.
The lender currently employs 512 mortgage advisers, meaning around one in four face the chop.
A Nationwide spokesperson said: “The move to processing mortgage sales via the video-to-member service allows us to be more efficient, so we do need to reduce our mortgage sales team.”