FINANCE giant Alliance & Leicester is to close a site and switch work elsewhere, with the loss of more than 200 jobs.

The firm, owned by Spanish company Santander, said its Heritage House site in Leicester will shut, with most of its 250-strong workforce moving to another office in nearby Narborough.

Some work, including personal loan telephone distribution functions, will move to other Santander sites in the UK, mainly Sheffield.

The firm’s mortgage servicing function, currently based at Narborough, is moving to another Santander company based in Teesside, affecting around 100 jobs.

“This decision may lead to a number of redundancies where redeployment is not found, although it is hoped many of these will be voluntary,” said the company in a statement.

An Alliance & Leicester spokesman said: “There is never a good time to announce changes such as this, and we are acutely aware of the uncertainty staff are facing.

“We would thank them for their continued professionalism and co-operation.”

The Communication Workers Union said the jobs were expected to go in the new year.

Santander’s commercial banking operation at Bootle employs around 2,000 people.