TESCO is launching itself into the multibillion-pound mortgage lending market, says this morning's Times , to try and pick up even more financial services business.
Tesco Personal Finance, which is a joint venture between Tesco and Royal Bank of Scotland, is expected to hold a key board meeting at the beginning of October to decide whether to go ahead with plans to launch a Tesco-branded mortgage or remortgage. Tesco wants to promote its mortgages through in-store literature to people who are buying their weekly groceries. One company which is feeling the effects of being in the mortgage market is the Co-operative Bank which yesterday reported interim pre-tax profits are down 7% to £70.1m because of the costs involved, says the Daily Telegraph. ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
