John Charcol highlights prospect of Tesco fixed rate mortgages
www.moneynews.co.uk > Mortgages > John Charcol highlights prospect of Tesco fixed rate mortgages
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Money News |
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John Charcol highlights prospect of Tesco fixed rate mortgages
Tue 25th Jan 2011
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Ray Boulger, senior technical manager at the mortgage broker, described how there are a few new lenders poised to enter the sector in 2011/12, with Tesco being one of the most prominent.
He said: "Tesco can probably borrow in the wholesale markets more cheaply than many of our banks, let alone the smaller players, and so it has the potential to compete aggressively."
However, he noted that it is not clear whether the supermarket chain will begin selling mortgages by the end of 2011 or if it will wait until the start of the following year.
According to Jonathan Cornell in FT Adviser, it is unlikely that Tesco will sell its products through mortgage brokers when it does enter the market, which means it will be a direct competitor to the major high street banks.
Click here for more mortgages news
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