The consultation – which is expected to commence on or around March 26 – will last for a period of not less than 30 days. No redundancies will be made during this time.
The majority of the lenders’ departments will be affected by the consultation, but Money Partners says that there will be no disruption in the service it provides to brokers.
Colin Sanders, CEO of Money Partners, says: “The continuing absence of liquidity and willing buyers for mortgage-backed assets leaves us with no choice other than to reassess what shape and size of business we need going forward.
“With a heavy heart therefore, we will shortly enter into consultation with a number of our employees regarding possible job losses.”