Opus Mortgages has blamed the ongoing liquidity crisis and market downturn for the closure of its Glasgow-based operations.
The office’s pipeline business has been transferred to fellow Glaswegian firm Deep Blue, although Opus’ Cumbernauld branch is still operational.
Lockhart Bruce, managing director of Opus, says: “Due to economic conditions and uncertain future trading, Opus has decided to close its Glasgow-based operations. We’ve had a number of discussions with Deep Blue to ensure there will be a smooth transition of all outstanding cases.
“Hopefully things will get better for the mortgage industry in the next six to 12 months.”