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UCB Homeloans closes its doors
Nationwide has confirmed specialist lending brand UCB Homeloans has been shut down.
Speaking to Mortgage Adviser, Matthew Wyles, group executive director for Nationwide, said the decision is a result of the changing market and it was believed it was not necessary to have two specialist brands at this time.
Acording to Wyles, UCB closed its doors to new business at the beginning of this month (October) and affected staff were notified of the decision last Thursday (16 October).
Wyles said nine sales positions would be affected but that it was hoped most of these could be placed elsewhere within the business.
