Norwich based buy to let broker The Money Centre is to make redundancies which it said was as a direct result of the impact of the credit crunch on the economy.

The Money Centre was recently listed in the Sunday Times Profit Track 100.

Mark Alexander, managing director of The Money Centre, announced to staff that up to thirty five redundancies are to be sought across a number of departments within the next four to eight weeks following a consultation period with staff.

Lynsey Sweales, director of The Money Centre, said: "It is with reluctance we have to consider redundancies as well as budget cuts, but the recent downturn in the property market and the withdrawal by lenders of a number of buy-to-let mortgage products has resulted in slower business for us. We will do all we can to limit the number of staff that will be affected and to help those that are to get new jobs."

All staff have been offered the opportunity to take voluntary redundancy and the directors are working closely with human resource consultants Croner on the redundancy process.

"The success of the company has in large part been due to our ability to recognise what the market needs and to react quickly. The changes we have announced will ensure we continue to be in the best shape to operate in this tighter market and to be ready when the market picks up again," added Sweales.

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