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 today (Tuesday) that it had ceased new.
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.
Tesco Plc (LON:TSCO), 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. The Bank, which has offered mortgages since 2012, currently serves over 23,000 customers with total lending balances of 3.7bn.
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A statement from Benny Higgins, Chief Executive, Tesco Bank. Full service has resumed for our customers We can confirm that normal service has resumed at Tesco Bank following the temporary suspension of online transactions from current accounts. Our first priority throughout this incident has been protecting and looking after our customers.
Thousands of homeowners who risked becoming ‘mortgage prisoners’ can breathe a collective sigh of relief today as Tesco Bank.
Tesco Bank has refused to commit to selling its £3.7bn loan book to an active and regulated lender, despite a further plea from MPs. Last month (May 21), Tesco Bank announced it had ceased new.
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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Tesco Bank ceases new mortgage lending – Tesco Bank has announced that it has ceased new mortgage lending and is actively exploring options to sell its existing mortgage portfolio. The bank currently serves over 23,000 customers with lending balances of 3.7bn.
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