View more on these topics

Sainsbury’s Bank partners with L&G and L&C for mortgage launch

Sainsbury’s Bank has revealed details of its mortgage range, which has been launched in partnership with Legal and General Mortgage Club and London & Country Mortgages.

Mortgage Strategy last year revealed that the Bank was looking to re-enter the mortgage market in the first half of 2017, after a 12 year absence.

The bank has now confirmed that it will offer residential mortgages and remortgages for first-time buyers, lending into retirement and for the self-employed across the UK.

Products will be offered both direct and through intermediary pilot partners L&C, who the banks says will “help us establish our broker footing.”

The bank is also partnering with Legal and General Mortgage Club and will look to work with additional brokers over the next 12 months.

The new mortgage range includes a two and five-year fixed rate deal, a two-year tracker and LTVs of up to 90 per cent. Customers aged up to 70 will be considered for deals and flexible features are offered including allowing overpayments, underpayments and payment holidays.

The supermarket giant and bank will also introduce a shopper reward for home purchase and remortgages.

Sainsbury’s Bank head of mortgages Catherine More says:The launch marks the start of our expansion into the mortgage market. Over time we will review and add to our mortgage range, this will include launching buy-to-let as well as refining our entry product offers.”

L&C Mortgages’ David Hollingworth, says: “We are absolutely delighted to work with Sainsbury’s Bank and to help support the launch of its mortgage proposition into the market.

“Its commitment to the intermediary channel is clear and underlines its intention to be a major mortgage brand.  The launch of a new, significant player like Sainsbury’s Bank can only help brokers and their customers, providing greater choice to those seeking quality, good value mortgage solutions.”



Sainsbury’s Bank to relaunch mortgage offering with Computershare

  Sainsbury’s Bank has confirmed that it will re-enter the mortgage market in the first half of 2017, saying it has “made good progress with developing its mortgage proposition.” Mortgage Strategy revealed in April that it was planning to re-enter the market after an absence of 12 years and was in talks with brokers about […]


Sainsbury’s confirms mortgage relaunch

Sainsbury’s Bank has confirmed it will launch back into the mortgage sector next year. Last week, Mortgage Strategy revealed Sainsbury’s had been in talks with distribution partners and was nearing a return to the sector after a 12-year absence. In its preliminary results, published today, it said: “Given the Bank’s strong trading performance and the […]

One to One: Esther Dijkstra, Lloyds Banking Group

Growing and learning every day on the job, getting more women into senior roles, creating positive change in the housing sector – and classical ballet In your position as director of strategic partnerships, what is your relationship with mortgage intermediaries? As director of strategic partnership management, I’m responsible for the overall relationship with our mortgage […]


News and expert analysis straight to your inbox

Sign up

Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now