Jobs at risk over Tesco Bank mortgage pullout
- Published
Up to 160 jobs are at risk after Tesco Bank announced it was pulling out of the mortgage market, 大象传媒 Scotland has learned.
The Edinburgh-based bank said 20 of its staff may be affected by the move.
Another 140 staff employed by outsourcing firm Capita to service Tesco Bank mortgage customers may also be affected. Most are Glasgow-based.
The bank is stopping new mortgage lending and exploring a sale of its existing mortgage portfolio.
It said "challenging" market conditions had "limited profitable growth opportunities".
Tesco Bank, which started offering mortgages in 2012, has more than 23,000 mortgage customers.
A spokesman for Tesco Bank said: "Twenty Tesco Bank colleagues are affected by this announcement and we will look for redeployment opportunities where possible."
A Capita spokeswoman said: "We will continue to work closely with Tesco to deliver a seamless service for their existing mortgage customers."
- Published21 May 2019
