Everyone knows Tesco, the supermarket chain present everywhere in the UK, from huge premises just outside the cities to small “métro” branches round the corner.

Now, the retail group will start mortgages via its Tesco bank.

However, be aware that deals on offer require at least a 20% deposit and the mainly fixed-rate deals have interest rates ranging from 3.19% to 5.09% – source: BBC News Business

So, is it a hit or a miss?

A month ago all looked very good because the opening rates were very competitive. But as things move forward rather rapidly, it is just another mortgage opportunity where Tesco had to re-define the word “competitive“.

 

Some people are questioning whether Tesco, even such a strong player on the food market, could be a serious player for mortgage services.

…The prospect of mixing groceries, Clubcard points and the largest loan you are ever likely to take out will not appeal to all…” declared Andrew Montlake of mortgage brokers Coreco.

Difficult to change for the time being…time will tell.