The decision impacts the firm’s short-term lending arm, Arbuthnot Specialist Finance.

A consultation process is underway regarding the future of roles and staff involved in the firm’s short-term specialist finance division.

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A spokesperson for the company said: “In light of the considerable economic headwinds currently facing the UK property market, the board has taken the strategic decision to exit the short-term specialist lending market, which represents a very small part of, and is not seen as core to, the group’s activities.

“The business will be wound down in an orderly manner and existing commitments to clients will be honoured, including any existing committed development facilities.”