Tesco Bank launches new mortgage broker service

The Bank, which employs most of its 4,000-strong workforce in Edinburgh and Glasgow, has launched its new intermediary service – Tesco Mortgage Intermediaries – meaning that from this week customers can access Tesco’s range of mortgages through London and Country mortgage brokers.

In the coming months, Tesco mortgages will be made available through a range of firms via Legal & General’s remaining Nouveau and Key Partners panel.

The new intermediary service has been designed to provide brokers with one of the easiest and most convenient services available, the lender said.

The 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.

Benny Higgins, chief executive of 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.”

David Hollingworth 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.”