Marks and Spencers Bank has revealed that it will introduce its first mortgage range as of early next year.
Subject to regulatory approval, the supermarket bank will offer mortgage products for first-time buyers and home-movers from early 2018, although no exact date for the launch has been announced as of yet.
It plans to offer mortgages both direct to consumers and via intermediaries.
The well-known brand launched as a bank and current account provider in 2012, on the foundations of M&S Money and it was reported at the time that it would enter into the mortgage market.
M&S Bank chief executive Sue Fox says: “Since launching as a bank just five years ago, the M&S current accounts have proven incredibly popular with customers who want a transparent bank account, with no overdraft charges, and the same great service they have come to know and expect from the M&S brand. We’re incredibly excited to be able to bring this M&S-standard service to customers purchasing a home, whether they’re making their first or final step on the property ladder, and for every move in-between.”