Tesco Bank to launch mortgages by April


Tesco Bank's chief executive, Benny Higgins, has suggested that its long-anticipated launch into the mortgage market will happen by as early as April this year.

Tesco Bank initially planned to enter the market by the end of 2010, but has been forced to delay several times; most recently, because of problems with migrating existing products onto new systems. However, in an interview with The Times, Higgins said of mortgages: "We would expect to launch in the next couple of months." A spokeswoman for Tesco Bank confirmed it was planning to enter the mortgage market in "the coming months", but said it was not in a position to discuss specific details about the launch date or product range. In the interview, Higgins also brushed off suggestion...

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