Tesco Bank seeks sale of £3.7bn mortgage business – Daily Business

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Tesco Bank has more than 23,000 mortgage customers with total balances of £3.7bn. Gerry Mallon, chief executive of Tesco Bank, said challenging market conditions had limited profitable growth.

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Tesco Bank is getting out of the mortgage market – blaming "challenging market conditions". The lender said on Tuesday it had stopped new mortgage lending and was actively pursuing a sale of its.

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The lender said on Tuesday it had stopped new mortgage lending and was actively pursuing a sale of its existing portfolio, which has total lending balances of £3.7bn. Tesco Bank currently has.

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Tesco. 3.7bn. The bank has now stopped all new mortgage lending and is looking to sell its existing portfolio. tesco bank chief gerry Mallon blamed difficult market conditions for the withdrawal,

Tesco Bank is stopping new mortgage lending and is looking for ways to sell its existing mortgage portfolio. The bank, which started offering mortgages in 2012, has more than 23,000 mortgage customers.

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Tesco Bank has thrown in the towel on mortgages, ceasing all new lending as it attempts to sell of its existing ledger book. Currently the bank has 23,000 mortgage customers who it has lent £3.7bn, a.