Monday , July 4 2022

Jobs at risk due to mortgage mortgage Tesco Bank


Tesco Bank signCopyright copyright

Up to 160 jobs are at risk after Tesco Bank announced it was withdrawing from the mortgage market, BBC Scotland has learned.

The Edinburgh bank said 20 staff could be affected by the move.

A further 140 staff employed by Capita on outsourcing to serve Tesco Bank mortgage customers may also be affected. Most of them are located in Glasgow.

The bank prevents new mortgage lending and examines the sale of its existing mortgage portfolio.

He said that "challenging" conditions of the market have "limited lucrative growth opportunities".

Tesco Bank, which started offering mortgages in 2012, has over 23,000 mortgage customers.

A Tesco Bank spokesman said: "This announcement affects twenty Tesco Bank colleagues and we will be looking for redeployment opportunities where that is possible."

A Capita spokesman said: "We will continue to work closely with Tesco to provide a seamless service for their existing mortgage customers."

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