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Tesco Bank joins Council of Mortgage Lenders

Tesco Bank joins Council of Mortgage Lenders
Tesco Bank has joined the Council of Mortgage Lenders CML as an associate.

The bank recently revealed that it plans to enter the mortgage market as a lender in 2011.

However, it still requires approval from the Financial Services Authority to offer mortgages.

Tesco Bank already offers personal finance services such as insurance, credit cards and personal loans.

Originally the bank intended to launch its mortgage services to market at the end of this year.

"We are focused on designing mortgage products that are consistent with the Tesco brand; namely, products that are simple, transparent and reward customer loyalty," Benny Higgins, chief executive of Tesco Bank, said.

Tesco Bank has become the 86th associate of the CML, which lists 111 full members.

The company recently acquired new headquarters in Edinburgh and is planning to continue to recruit into next year.
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2010-12-02 16:26:34 © Moneyextra.com

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