Tesco Bank has joined the Council of Mortgage Lenders as an associate.
Tesco hopes to enter the mortgage market as a lender during 2011, subject to gaining approval from the Financial Services Authority.
Over and above its plans to enter the mortgage market, Tesco Bank is already a major existing supplier of personal financial services, offering a comprehensive range of insurance cover, credit cards, personal loans, savings products, car breakdown cover and travel money options.
Tesco Bank customers are able to buy and manage personal finance services through the store’s extensive range of retail outlets, but also use online and telephone sales and transactions options.
The CML now has 111 members and 86 associates.