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Dozen jobs to go at N&P's mortgage subsidiary
TWELVE workers at Norwich and Peterborough are facing redundancy after the building society decided to shut down one of its subsidiary companies.
TWELVE workers at Norwich and Peterborough are facing redundancy after the building society decided to shut down one of its subsidiary companies.The firm, based at Lynch Wood business park, has closed its Astra Mortgages arm to new business for the "forseeable future", with the recession making trading conditions increasingly difficult.
Astra Mortgages was responsible for dealing with customers who took out home loans with Norwich and Peterborough through brokers, but the building society has decided to only accept residential mortgage customers who come to the company direct.
Norwich and Peterborough spokeswoman Laura Hogg said: "The roles of 12 staff at our Lynch Wood office are affected by these changes, and we are consulting with these members of staff regarding redeployment opportunities or redundancy.
"We do have a number of redeployment opportunities available, and hope that staff affected may move into some of these positions.
"It is very regrettable that the current market climate has led us to this decision. When the market recovers, the society intends to to re-open Astra for new business."
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Weather for Peterborough
Tuesday 22 May 2012
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