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The buy-to-let and self-cert specialist, which stopped lending to new customers during the spring, said it had no plans to seek new business in 2009.

The latest round of redundancies followed 50 job cuts in April.

Janet Randall, marketing manager of CHL Mortgages, said: "The most affected are going to be on the sales side and the front end because we are not planning to take on any new mortgage lending in 2009 so obviously we are going to restructure accordingly."

Ms Randall confirmed one of the affected parties would be Trevor Child, head of sales and marketing for CHL.

Ms Randall was unable to say whether CHL would return to new lending in 2010.

She said: "It is a long way off isn't it? We are hoping to but in the current climate I cannot say yes or no."

Bob Young, managing director of CHL Mortgages, said: "We need to restructure our business in light of current market conditions and to be well placed for the business opportunities that lie ahead.

"We regret that we have to reduce staff numbers but in the current market we simply have no alternative."

In June the commercial lending arm of the business, which has also closed its doors to new business, told Mortgage Adviser it was fully committed to the market and was actively seeking new business.

At the time Mike Healy, head of commercial for CHL, said: "We are fully aware that in the current climate, mortgage intermediaries and advisers are looking at sectors to diversify into and the commercial mortgage market is an option not a million miles away from their current business activity."

Steve Olejnik, head of sales for Kent-based adviser Mortgages for Business, said the options for buy-to-let borrowers were slowly reducing with the number of lenders that were closed to new business.

Mr Olejnik said the lenders that were left in the market would also be wary of being flooded with business and this meant pricing was becoming less competitive.

He said: "At the moment that is the way it is. We are at a stand-off between lenders nobody wants to go out in front. As a result we have got products that do not work because we have got a hell of a lot of landlords sitting on standard variable rate just waiting to remortgage. But at the moment there is no real product to move to."