Wednesday, Oct 10, 2007
Early casualties in the UK sub-prime market
Firstrung: Mortgage broker Black & White ask for voluntary redundancies
The Black and White Group has announced 50 of its staff are to be given voluntary redundancy, cutting its workforce by a quarter. "It's regrettable that we have to take this step, but like all intermediaries active in the non-conforming mortgage sector, revenues have been hammered. Lenders have upped their rates, increased arrangement fees, withdrawn lending criteria and reduced procuration fees; all of which have significant consequences to our business".
Posted by uncle chris @ 09:16 PM (189 views) Add Comment
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