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Tesco Bank has announced that it has ceased new mortgage lending and is actively exploring options to sell its existing mortgage portfolio

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Tesco (LON:TSCO) – Tesco Bank has ceased new mortgage lending while it explores options to sell the mortgage portfolio. Tesco Bank is to sell off its mortgage portfolio after halting new lending, in a move which could affect more than 23000 customers.

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.

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2013-06-12  · Tesco Bank today announces the expansion of its mortgage range with the introduction of 85% LTV fixed rate and tracker mortgages. The new products offer.

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.

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 ongoing administration of relevant accounts.

Tesco PLC. 21 May 2019 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 ongoing administration of relevant accounts.

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Mortgage lenders are shutting up shop Tesco Bank is the sixth lender since December to close its doors to new business as increased competition in the market has squeezed profits in the sector. The bank follows AA Mortgages, which in March announced it would no longer be offering mortgages to new customers.

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Tesco Bank has announced that it will not offer any new mortgages and is actively looking for options to sell its existing mortgage portfolio; a decision it has made due to challenging market conditions. Tesco Bank started offering mortgages in 2012 and currently serves over 23,000 customers with total lending balances of 3.7bn.

Categories: Mortgage News

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