Mortgage News

Tesco Bank announces it is halting new lending

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Thousands of Tesco Bank customers could find their mortgage sold to a third party after the bank confirmed it has ceased new lending and will look to sell its mortgage book. The bank, which has lent around 3.7billion to over 23,000 mortgage holders, blamed challenging market conditions as it closed its doors to new lending.

Tesco Personal Finance PLC to cease new mortgage lending and explore sale of mortgage portfolio Tesco Bank has today announced that it has ceased new mortgage lending and is actively exploring options to sell its existing mortgage portfolio, including the complete transfer of related balances and.

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Tesco Bank ceases new mortgage lending – Tesco Bank has announced that it has ceased new mortgage lending and is actively exploring options to sell its existing mortgage portfolio. The bank currently serves over 23,000 customers with lending balances of 3.7bn.

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Tesco Bank is to sell off its mortgage portfolio after halting new lending, in a move which could affect more than 23,000 customers. The bank announced on Tuesday that it had ceased new mortgage.

Source: bbc.com UK: Tesco sells mortgage portfolio to Lloyds Banking Group Tesco Bank. announced by H.H. Sheikh Mohammed.

Thousands of homeowners could find their tesco bank mortgages sold to a third party after it confirmed it has ceased new lending. The supermarket giant’s fully-owned bank will look to sell its.

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Tesco Bank has today pulled its entire range of mortgage products and announced plans to sell its existing home loans to another provider. This news is sure to spark concern among the retailer’s 23,000 mortgage customers, who collectively borrow a whopping 3.7bn.

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