From today, customers can access Tesco’s range through London and Country.
In the coming months, Tesco mortgages will be made available via Legal & General’s Key Account firms, including Nouveau Group, Mortgage Advice Bureau, John Charcol and Stonebridge.
The service includes searchable lending criteria, webchat, and the ability to scan and upload documents and track the status of applications from any device.
Tesco's mortgage range includes two-year fixed rates from 1.67%, three-year fixes from 1.99% and five-year fixes from 2.34%.
The Bank also offers a two-year tracker starting from 1.35% at 60% LTV.
Benny Higgins, Chief Executive Officer, Tesco Bank, said:
“We aim to be the bank for people who shop at Tesco, and the launch of Tesco Mortgage Intermediaries will help us to serve more customers than ever before. The vast majority of Tesco customers select their mortgage through a broker and our platform has been specifically designed to help brokers provide a great service to customers remortgaging or purchasing their home.”
David Hollingworth of London & Country, commented:
“Since entering the market, Tesco Bank has built a solid reputation based on competitive rates and its commitment to good service. We are confident that their broad range of sharply priced mortgages will appeal to customers and advisers alike. We are delighted to be working with Tesco on their first step into the intermediary market.”
Jeremy Duncombe of Legal & General, added:
“We are delighted to work with Tesco Bank as they enter the mortgage intermediary market for the first time, and we look forward to strengthening our relationship as their mortgages are made available via our Nouveau Key Partner firms.”
