2 hours ago · 23,000 Tesco Bank mortgage customers to be sold to Halifax in £3.8bn deal. Customer accounts will be transferred over to Halifax by 30 September – with new documents to.
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Tesco Bank is set to pay brokers retention procuration fees of 0.3%. The move comes as Tesco Bank’s first set of intermediary mortgage customers are due to reach the end of their fixed term contracts in June 2018, as the Bank has been offering mortgages via intermediary market for close to two years.
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Tesco Bank announces it is halting new lending Tesco Bank has 23,000 customers Tesco Bank is to sell off its mortgage portfolio after halting new lending, in a move which could affect more than 23,000 customers.
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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. It now says it will actively look for a buyer for its existing mortgage portfolio.
The bank, is also trying to offset a slowdown in consumer borrowing with a cost-cutting initiative. In January, it announced that it was. that Lloyds was in exclusive talks to buy Tesco Bank’s.
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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.
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2 hours ago · Tesco Bank has sold its mortgage business to Lloyds Banking Group for £3.8bn, in a move which will see its 23,000 customers switched to a new provider. The retail giant ceased all lending.