The GMAC-RFC book is moving to Bracknell and all staff working on the contract have the option to move with it under Transfer of Undertakings (Protection of Employment) Regulations.
TUPE rights apply during a business transfer when the identity of your employer changes.
Julian Wells, marketing director at HML, says: “Employees working on the GMAC-RFC mortgage account have TUPE rights. We have started a voluntary redundancy programme. We hope to avoid making any compulsory redundancies.”
GMAC-RFC’s decision to move in-house comes after the former lender was taken over by Fortress Investment Group in April this year.
Fortress will officially take over on April 13 next year.