Tesco bank pulls out of the mortgage market: here’s what it means The bank announced today that it had ceased new mortgage lending and was actively exploring options to sell its existing portfolio
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Thousands of Tesco Bank customers could find their mortgage sold to a third party after the bank confirmed it has ceased new lending and will look to sell its mortgage book. The bank, which has lent around 3.7billion to over 23,000 mortgage holders, blamed challenging market conditions as it closed its doors to new lending.
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 lending and was actively exploring options to sell its existing portfolio, which has total lending balances of 3.7 billion.
Tesco PLC. 21 May 2019 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 ongoing administration of relevant accounts.
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.
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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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