Tesco Bank Cuts Mortgage Rates!
Tesco’s bank started to offer mortgages to consumers in August 2012 and since then they have advanced £258 million in secured mortgage lending.
According to the Council of Mortgage Lenders (CML) the lender is estimated to hold a 0.2 per cent market share with lending of around £0.3 billion. Read more
Tesco Bank goes After Best Buy Status.
Tesco bank is a telephone and internet based commercial bank, though it does currently have two store based branches in Coventry and Worthing.
Tesco bank was founded in 1997 and was originally a joint venture between Tesco and the Royal Bank of Scotland (RBS), until Tesco bought out its banking partner in 2009 months after the RBS was rescued by the British tax payer at a cost of £45.5 billion. Read more
Lender relaunches deal.
Tesco Bank Enters the Price War.
Rates have really come down in the last few months as banks and building societies have begun to slash their rates.
Tesco Bank first launched its range of mortgages in August 2012 in a bid to capture a larger slice of the UK retail banking market. They recently announced that they intend to lend £1 billion by the end of 2013. Read more
Tesco Launches Cheapest Mortgage.
It seems that mortgage availability has generally increased since the Bank of England and the Treasury launched the £80 billion funding for lending scheme, but many headline grabbing rates have been concentrated around people with larger deposits and have also come with significant fees.
A mortgage price war however has once again delivered the lowest ever two year fixed rate mortgage, as Tesco Bank stages an assault on established lenders. Read more
Tesco launches mortgage products.
Since the financial crisis took hold the government has wanted the stronghold thatBritain’s banks have on personal finances to be broken.
Therefore is now seems that Tesco the supermarket giant is seizing the chance to differentiate itself as a trustworthy brand and the timing could not be better as consumer confidence in banks has plummeted due to recent system glitches and LIBOR rigging scandal. Read more
One of the supermarket giants Tesco’s has plans to enter in to the home loan business. This comes as shoppers look for alternatives to traditional high street banks and building societies that are caught up in the global financial crisis.
Some research has shown that in the current climate many consumers are worried about the safety of their savings and mortgages with existing high street lenders. Read more
Tesco, the third largest retailer in the world is set to expand its banking business and hopes it will become a “significant” part of the group’s business. Tesco bank launched in 1997 and has grown steadily since then, they are currently on the verge of launching their own range of mortgages and current accounts in direct competition to banks and building societies. Read more