M&S Bank is set to launch its first mortgage offering in early 2018, subject to regulatory approval.
This comes as the bank celebrates its fifth anniversary as a bank and current account provider.
M&S Bank plans to offer mortgage products for first-time buyers as well as home movers, with competitive rates across a range of terms.
Sue Fox, chief executive of M&S Bank, said: “. We’re incredibly excited to be able to bring the 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.
“We’re now in a position to support our customers with the biggest financial decision they’ll ever make – their home.
“And we know this isn’t just a financial decision – it’s about family, friends and future – and the memories that make up the tapestry of our lives.”
David Hollingworth from London & Country Mortgages, added: “M&S is clearly a huge high street brand with real
weight behind it in terms of quality and consumer trust.
“Consumers are well used to M&S offering financial products dating back to its original charge and credit card offering and more latterly the establishment of its current account. That existing foothold and strength of brand should give M&S a good platform for entering the mortgage market.
“There’s been a number of new entrants in the mortgage market in recent years that can demonstrate that today’s borrowers will happily take to new brands.”