Tesco to Offer Mortgages to Customers With 20% Deposit, FT Says

Tesco Plc (TSCO), one of the U.K.’s largest retailers, will start offering mortgages to customers with a 20 percent deposit, the Financial Times reported.

The interest rates offered will range from 3.19 percent for a two-year fixed deal to 4.69 percent for a five-year tracker mortgage, the newspaper said, citing an interview with Benny Higgins, the chief executive officer of Tesco Bank.

-- Editor: Benedikt Kammel

To contact the reporters on this story: Ben Moshinsky in London at bmoshinsky@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net.

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