HBOS is closing one of its specialist mortgage brands, The Mortgage Business (TMB), which has its headquarters in Queen's Park Road, Handbridge.

The union Unite say the decision could affect the jobs of 99 out of 200 mortgage TMB workers. It is expected the other 100 workers will be redeployed within the group.

HBOS has announced that nationally 325 jobs in mortgage and accounts could be axed with a further 100 in the IT sector.

A statement from HBOS read: "By the end of March, 2009 it is expected that up to 325 colleagues will leave HBOS as a result of these changes. The aim is to achieve this through redeployment, voluntary severance and normal turnover in accordance with the Job Security Agreement."

Existing TMB mortgages will not be affected and Birmingham Midshires (BM) will became responsible for managing relationships previously held by TMB.

HBOS spokesman Heather Scott said the company would not confirm how many jobs would be axed from Chester but a Unite spokesman told the Leader the figure could be just short of 100 posts.

HBOS unveiled a profits slump of 72 per cent last month and so far an office has closed in Cardiff and there could be jobs cuts at a computer centre in Livingston, Scotland.

Unite spokesman Graham Goddard said: "This is a further blow for jobs in the UK Financial Services sector being brought about by the credit crunch and the changing economic climate.

"Our priority is to do our best to ensure these losses are dealt with through voluntary redundancy in line with the jointly agreed Job Security agreement."