Egg mortgages scramble onto the market

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Egg mortgages scramble onto the market

Online bank Egg, who are majority-owned by Prudential, are planning to launch Egg mortgages.

The bank will sell home loans from existing lenders under their own Egg branding. Product details are yet to be specified.

Paul Gratton, chief executive of Egg, said: "We are looking at adding to our product range through links with third parties. We plan to offer mortgages and perhaps current accounts."

The move into new markets is an attempt by Egg to increase its financial growth.

The company has suffered recently after what analysts have described as a rushed move into the unsecured loan market.

Last year also saw an unsuccessful move into the French market, which led to pre-tax losses of £107 million.

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