Aisle Five: Marmite, Mushy Peas And Mortgages

Posted by Orb Staff on August 08, 2012 No Comments
Categories : Residential Mortgage

12153_tesco_chip_2 Aisle Five: Marmite, Mushy Peas And Mortgages British shoppers who buy their groceries at the Tesco supermarket chain can now add mortgages to their shopping carts.

The Wall Street Journal reports that Tesco – which is ranked as the world's third largest retailer by sales – will originate its home loans through its Tesco Bank division, which also offers savings accounts, insurance and credit cards. Borrowers seeking a Tesco mortgage must place a minimum 20% deposit. Loan rates start at 3.89% for a five-year fixed-rate mortgage.

‘The launch of Tesco Bank mortgages is a major milestone toward offering Tesco customers a full retail banking service,’ says Philip Clarke, Tesco CEO.

(Photo courtesy of TalkingRetail.com)

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