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Tesco Bank stretches length of initial mortgage offer

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  • 04/08/2016
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Tesco Bank stretches length of initial mortgage offer
Customers of Tesco Bank will be granted a longer mortgage offer period from today as the lender announces an extension from three months to six months.

Tesco, which launched into the intermediary market earlier this year, said it has made the change after listening to feedback.

Last month, the lender extended the offering of its 95% loan-to-value (LTV) mortgage to brokers. Tesco Mortgage Intermediaries began its broker distribution in April through London and Country, with lending rolled out through some of Legal & General’s key brands and Nouveau members last month.

David McCreadie, managing director, Tesco Bank said: “We are always looking at ways we can make the mortgage process as straightforward as possible for customers.

“After listening to feedback, we are pleased that we have been able to extend the validity period of our mortgage offers to six months, which will help to give customers more time to complete their mortgage journey.”

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