Five members of Solent Mortgage Services have been made redundant following the firm’s merger with TFC Homeloans last week.
SMS’s Gosport office has also been closed following the merger.
TFC Homeloans and Solent Mortgage Services managing director Nigel Payne says: “Following the merger deal, the decision has been made to close the SMS office and move all main operations to TFC’s headquarter’s in the centre of Manchester.”
TFC’s team of 30 is prepared and able to handle the extra business, Payne adds.
“Five members of SMS staff will sadly be affected by redundancy, including one apprentice,” he says.
“We are putting in place a careers guidance session for them as well as talking to our locally-based partners to see if they can be helped to find work in the industry.”
SMS managing director Ian Balfour has become director of sales and marketing across both SMS and TFC.