From today Tesco’s mortgage range can be accessed through London and County Mortgage brokers and in the coming months its range will be available through Legal & General’s remaining Nouveau and Key Partners panel.
Tesco Bank has launched a broker service called Tesco Mortgage Intermediaries.
From today Tesco’s mortgage range can be accessed through London and County Mortgage brokers and in the coming months its range will be available through Legal & General’s remaining Nouveau and Key Partners panel.
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.”
Products at 60% loan-to-value include 2-year fixes from 1.67% with a £1,300 product fee.
With an £800 fee to 60% LTV meanwhile 3-year fixes stand at 1.99%, 5-year fixes 2.34% and 2-year trackers 1.35%.
The intermediary service includes a number of features to help brokers make the transaction as straightforward as possible, including searchable lending criteria, webchat, and the ability to scan and upload documents and track the status of applications from any device. Brokers will be able to contact Tesco Intermediaries by phone or online using the bank’s webchat functionality.
David Hollingworth, associate director, communications, of London & Country, said: “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 said: “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.”
