The Co-operative Bank has placed 80 staff in consultation at its intermediary lender Platform.
The bank is closing Platform’s London office in Canary Wharf and relocating the departments to other locations, primarily in Manchester.
A spokesman for The Co-operative Bank says: “While the mortgage market remains challenging we regularly review our approach to mortgage lending across the entire business.
“Our lease at Platform’s main offices in Canary Wharf is coming to an end and after careful consideration we are proposing to exit these offices and move departments to locations across our existing estate, primarily in Manchester with some presence in London.
“Customers will see no change to the excellent service levels and product range that Platform currently provides. As a result of these proposals, staff have now commenced consultation.”
He says the bank hopes to redeploy a number of staff to other areas of the business and it will try to keep redundancies to a minimum.
He says the bank remains committed to the intermediary mortgage sector via Platform and plans to significantly increase its lending in this market, with particular emphasis on buy-to- let lending in 2012.