The M&S Bank products will be targeted at both first-time buyers and home movers, with rates and further details to be announced next year. "Sue Fo
The M&S Bank products will be targeted at both first-time buyers and home movers, with rates and further details to be announced next year.
“Sue Fox, chief executive of M&S Bank, said: “.
M&S Bank will launch its first mortgage early in 2018.
The bank has been in operation since 2012, after gaining a license from United Kingdom watchdogs.
The bank’s number of current account customers has grown by an impressive 60 percent over the past two years.
“It is following a similar path as the other supermarket banks which started with savings, credit cards and loans before dipping a toe in the mortgage market”, he said.
The bank has its roots in the financial services division of M&S, which was founded in 1985. We’re incredibly excited to be able to bring the M&S-standard service to customers purchasing a home, whether they’re making their first or final step on the property ladder, and for every move in-between.
She added that numerous store’s customers had shopped with M&S their whole lives.
From next year not only will M&S (LON:MKS) provide you with meal deals, clothing and furniture but are introducing a range of mortgages.
London and Country associate director communications David Hollingworth added that he was pleased M&S will also launch through brokers as well as direct.
“That existing foothold and strength of brand should give M&S a good platform for entering the mortgage market”.
“Of course, the key will still be in offering the right product, especially as the market is so competitive”. Tesco (LON:TSCO) has been on the market since 2012, with successful results.