Economy

M&S Bank to launch mortgage range through intermediaries

M&S Bank to launch mortgage range through intermediaries”

From next year not only will M&S (LON:MKS) provide you with meal deals, clothing and furniture but are introducing a range of mortgages.

"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". While the rates have not yet been specified, the bank has said that its deals will be available to first-time buyers and home movers, and that it is promising "competitive rates across a range of terms".

She added that numerous store's customers had shopped with M&S their whole lives. The bank has been in operation since 2012, after gaining a license from United Kingdom watchdogs. The former chief Sir Stuart Rose was anxious that it could damage the reputable brand.

Deutsche Bank reiterated its "hold" rating on the blue-chip retailer this week, without specifying a price target on the shares.

"Tesco and Sainsbury's are testament to the fact that high street names can compete successfully", he added.

Brokers already expect the strong brand recognition to prove a popular choice with borrowers and the wider broker market.

The banking arm is an extension of M&S's financial service set up in the mid-1980's, and now has over 29 branches and 120 bureaux de change's in M&S stores.

The provider has previously launched into the current account market in recent years, as well as offering other products including credit cards and personal loans.

M&S Bank has announced plans to launch its first mortgage early in 2018, confirming that it will offer products through the broker channel as well as direct.

M&S Bank was launched in 2012, evolving from M&S Money, and now serves nearly four million customers.



Like this

loading...
loading...

Latest


20 October 2017
United Continental Holdings (UAL) - Citigroup Holds Rating And Sets New Price Target
The market capitalization (Stock Price Multiply by Total Number of Outstanding Shares) for the company is reported at $20.87B. The Parametric Portfolio Associates Llc holds 1.14 million shares with $86.15 million value, up from 536,262 last quarter.

20 October 2017
Erdogan questions USA partnership amid visa row
He is accused of "attempting to overthrow the constitutional order and Turkey's government", and "spying", a judicial source said. Embassy in Ankara announced that it had suspended all non-immigrant visa services at its diplomatic facilities in Turkey.

20 October 2017
Alex Oxlade-Chamberlain promises patience at Liverpool
Jurgen Klopp revels in Liverpool's seven-goal output at Maribor , a club record for a European away match. The midfielder scored his side's sixth in their record-breaking 7-0 Champions League win over Maribor .

20 October 2017
Messenger now supports PayPal payments
For now, PayPal integration with Facebook Messenger is available in the USA , but there are plans to expand it around the world. Building on an existing partnership, Facebook and PayPal are now making it easier than ever to send and receive money online.

20 October 2017
David Blaine has been accused of raping a former model
What she understands about molestation is that the woman is being pulled in a bush, forced to remove her clothes, and left alone. So I blamed myself. "I was limp, and I was very floaty; I was in and out of a deep sleep", Prince said.

20 October 2017
Nicki Minaj to Testify at Brother's Child Rape Trial in NYC
The publication reports that Jacquelin and Jelani had just married when Jacquelin's daughter was 11-years-old. David insists that the mother has intentionally put the DNA on the trousers herself.

20 October 2017
Arjun Bijlani, Rashami Desai and Jasmin Bhasin to enter Bigg Boss house..
Benafsha will not want Hina to be the captain as she hates her overconfidence and wants to give her some strong competition. Finally, with every contestant's consent, Hina and Sapna will be elected as the top two contenders for the captaincy task.

20 October 2017
106 hedge funds buy Wells Fargo & Company (WFC) for the first time
For WFC, you can get a sense of how sustainable that is by a levered free cash flow of $11.2 Billion over the past twelve months. Mercer Capital Advisers has invested 0.2% in Enterprise Products Partners L.P. (NYSE:EPD). 137,326 are owned by Davidson Invest.

20 October 2017
Depth Technical Analysis: Graphic Packaging Holding Company (GPK), Inphi Corporation (IPHI)
Oregon Public Employees Retirement Fund increased Agilent Technologies Inc (A) stake by 170.71% reported in 2017Q2 SEC filing. Highbridge Capital Management Ltd Liability Corporation has invested 0.03% in Graphic Packaging Holding Company (NYSE: GPK ).

20 October 2017
$-0.09 EPS Expected for Fitbit Inc (FIT)
Following the completion of the sale, the executive vice president now owns 80,332 shares in the company, valued at $456,285.76. Volume levels waned and FIT actually managed a declined which translated to 6.68 million shares changing hands on the day.