Sainsbury's Resumes Talks to Sell £650m Mortgage Book as Disruption in UK Market Continues

Sainsbury's is resuming talks to sell a £650m mortgage book, which it decided was not core to its banking arm.

12 June 2023 · 22:48 UTC

Potential buyers have been contacted again in recent weeks.

The sale comes amid disruption in the UK mortgage market and Sainsbury's Bank has ceased new lending since 2019.

Retail rival Tesco is also examining a disposal of its banking operation.

A Sainsbury's spokesperson declined to comment.