06 September 2019
Written By FinTech Alliance in Mortages
Tesco Bank will move over 23,000 mortgages over to Halifax, a subsidiary of Lloyd’s, by the end of the month.
The bank’s UK residential mortgage portfolio is worth £3.8bn.
Tesco stopped lending on new mortgages in May and announced plans to sell portfolio.
The decision to sell to Halifax ends a competition to secure the portfolio which also involved Santander and RBS.
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