The new banking arm of retailer Marks and Spencer will not offer mortgage products to customers until at least 2013.
The retail giant announced plans last week to rebrand its existing M&S Money service and offer current accounts and mortgages for the first time.
However, Mortgage Solutions can confirm that M&S will not offer any mortgages until at least 2013, with the firm unlikely to make any further announcements on their mortgage plans this year.
Backed by HSBC, M&S Bank expects to launch current accounts this autumn.
M&S Bank will open its first store inside the London Marble Arch branch of Marks and Spencer and has plans for a further 50 branches to open over the next two years.
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