Nationwide is to stop offering mortgages through its Dunfermline, Cheshire and Derbyshire Building Societies brands, which will refer mortgage customers to Nationwide through in-branch independent financial advisers.
The three brands will cease to offer new mortgages from 9 July, resulting in about 26 redundancies across 125 branches. Low mortgage business levels from the merged brands prompted the decision along with the cost of keeping compliant systems in place. Nationwide merged with Dunfermline in March 2009 and Derbyshire and Cheshire in September 2008 and the three brands combined bring in less than 1% of Nationwide’s total mortgage business. Derbyshire’s IFA service has now been extended to Dunfermline and Cheshire branches in the past five months, offering whole-of-market advice on pro...
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