The firm has also revealed that it is to make 15 per cent of its packaging department redundant after a third of its non-conforming business dropped off in the last 2 months. These 11 cuts will come from its Caterham office.
Tomlinson said: “As a founding director of Mortgage Next, I have spent the past 11 years helping to grow the company into what is today a strong and well respected brand in the mortgage market.
"I believe Mortgage Next is in an excellent position to meet the challenges of a more demanding mortgage market head on and I have therefore made the decision that the time is now right to hand over the reigns to the rest of the management team to steer the company through its next phase of its development. I’m looking forward to spending more time with my young family and pursuing other interests.”
Lisa Barber will take on the role of sales & marketing director in her stead.
Speaking of the job cuts, Martin Maynard, chairman and founder of Mortgage Next, said: “The sudden downturn in the non-conforming market has left Mortgage Next with considerable over-capacity in our packaging department.
"We do not anticipate a quick revival of fortunes in the sector and therefore have no option but to realign our processing capacity with lower anticipated future volumes of business.
"These are difficult times for any mortgage company and I am extremely mindful of the direct impact today’s decision will have on the lives of members of staff who have helped build Mortgage Next into a highly professional and well respected brand.
“I would like to emphasise, however, that the job cuts will not impact on either the range or quality of services on offer from Mortgage Next. ARs of the network, directly authorised brokers and our other business partners will continue to receive the same high quality and professional service they have come to expect from Mortgage Next.
“I would like to thank Justine for her enormous contribution over the course of the past decade. Without her energy and focus Mortgage Next would not be the success story it is today. She will be missed by myself and the rest of the team and I wish her every happiness for the future.”
