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Tesco starts 95% LTV lending to brokers and widens distribution

  • 12/07/2016
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Tesco starts 95% LTV lending to brokers and widens distribution
Tesco Bank begins lending at 95% loan-to-value (LTV) this week to brokers after its launch into the intermediary market in April this year.

The supermarket brand has just widened its distribution to more of Legal & General’s key partners and some of its Nouveau members, including HLP, Mortgage Advice Bureau, Stonebridge and John Charcol.

The new product range, which launches on Thursday 14 July, has no booking fee after broker feedback, with some of the range completely fee-free.

Rates have also been lowered on several five-year products.

Pipeline cases for the current product range, dated 16 June 2016, must be fully submitted and fees paid by midnight tomorrow (Wednesday) to secure a product.

Tesco first launched into the intermediary market with London & Country after a delayed launch and is expected to steadily evolve its distribution in the coming months.

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