M&S Bank planning to enter mortgage market
M&S Bank has announced it is expecting to start offering mortgages in early 2018 if it receives regulatory approval.
After launching the M&S Bank brand in 2012, the mortgage market is the next logical step for the bank as it already provides a full range of financial products, including credit cards and loans.
Aaron Strutt, product director at Trinity Financial, says “M&S will be in partnership with HSBC and this means its mortgages are likely to be very competitively priced.
“The lenders are pushing to increase the number of mortgage applications they process so it will be entering a tough market.”
M&S Bank plans to offer mortgage products for first-time buyers, as well as home movers, and full details will be available in the New Year.
The bank says its mortgages will be available directly and via brokers.
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