Tesco to enter the mortgage arena - papers 17th Sept

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. ...