Hundreds of jobs at bank could go

The Bank of Ireland blamed the downturn in the housing market

Hundreds of jobs in Berkshire and the West Midlands are under threat after a bank announced it is to close two mortgage offices.

Bank of Ireland employs about 270 staff at its Reading operation and another 165 in Solihull.

Staff are being consulted with a decision about job losses due in April. The bank has blamed the downturn in the housing market.

The firm said a "significant number" of redundancies were expected.

A Bank of Ireland spokeswoman said: "We intend to close our Solihull and Reading offices and concentrate all remaining UK mortgage activity at our operation hub in Bristol.

"Reading and Solihull offices are predominantly intermediary mortgage operations and our Bristol office is an infrastructural hub for a range of Band of Ireland units.

'Knock-on effects'

"It is more operationally effective to fully utilize this location."

Rob Wilson, Conservative MP for Reading East, said the announcement would "undoubtedly cause difficulties for many families".

He added: "This has not been a happy new year on the jobs front as we've already lost nearly a thousand jobs in my constituency since the 1 January."

Labour's Reading West MP Martin Salter said: "Reading has always been slightly insulated from the effects of a downturn. The employment in Reading and the Thames Valley has always been pretty dynamic.

"But in the 1990s we had plenty of housing repossessions.

"I certainly think where you get a significant downturn in the housing market there are knock-on effects."