Tesco are getting ready to enter the mortgage market.
The supermarket's mortgage proposition is to be submitted to the FSA for approval next month with a view to launch in the early summer of next year.
Tesco Bank has also just signed a five-year agreement for a mortgage call centre in Glasgow.
Vertex will be employing 200 call centre workers to service Tesco Bank.
Scottish first minister Alex Salmon said he was delighted: “I welcome Tesco Bank’s plans to further increase their presence in Scotland as the company moves into the mortgage market.”
Benny Higgins, chief executive of Tesco Bank, said good progress was being made towards the launch. He also made it clear that supermarket customers will benefit.
He said: “We are focused on designing mortgage products that are consistent with the Tesco brand, namely, products that are simple, transparent and reward customer loyalty.”
The mortgage offering could be a powerful part of iSold, the cut-price estate agency chain being rolled out by the Spicerhaart chain with Tesco as its partner.
Tesco get nearer to entering homes mortgage market
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Comments
Oh – bless you love,
They don’t just take deposits and lend it, that’s not allowed.
Oh dear....
Another bank that won't be getting any of my money. I want my money to be safe not at the mercy of a bank dispensing it to people buying over priced property.
...........hmmmmm England? why :)
ace.
Will not Tesco be taking the millions, not throwing millions!
Rick, you're from .... where?
Yeah good old Scotland eh - why is ti everything they touch turns to shite?
Good luck to them.
We badly need more life in this dreary market, if Tesco are prepared to throw there millions at it perhaps there is hope.
Imagine all those clubcard points.