Tesco to work with mortgage brokers

February 16, 2015 by in category Mortgage News with 0 and 0

In order to take more market share Tesco plans to extend its distribution beyond its shop front to mortgage brokers for the first time next year.

Tesco Bank has lent over £1bn worth of home loans since it started selling mortgages two and a half years ago, according to a report in the Telegraph.

Tesco are currently undergoing a cost cutting exercise but sees the inclusion of mortgage brokers as giving them the opportunity to increase mortgage business considerably.

Figures show that over half of Tesco customers are buying mortgages through brokers and that number is increasing under the new regulatory code.

They plan to launch in the first half of 2016.

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