Tesco bank pulls out of the mortgage market: here’s what it means The bank announced today that it had ceased new mortgage lending and was actively exploring options to sell its existing portfolio
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Tesco Bank has become the latest lender to pull out of the mortgage market. The supermarket bank will stop offering mortgage deals to new customers with immediate effect. It also confirmed it is looking for a buyer for its existing mortgage portfolio. tesco said this strategic review was the result.
Tesco. market. The supermarket bank will stop offering mortgage deals to new customers with immediate effect. It also confirmed it is looking for a buyer for its existing mortgage portfolio. Tesco.
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CityAM – Business with personality. Founded from a market stall in London’s East End in 1919, Tesco has grown into one of the world’s largest retailers with thousands of stores across Europe and Asia.
Tesco Bank, which serves more than 23,000 mortgage customers with total balances of 3.7 billion pounds ($4.7 billion), said it would stop new lending and seek to sell its existing portfolio of home.