This is not just a mortgage; it’s an M&S mortgage

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.

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