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Tesco Bank becomes CML associate

Tesco Bank has joined the Council of Mortgage Lenders as an associate.

The lender hopes to enter the mortgage market as a lender during 2011, subject to gaining approval from the FSA.

Tesco is already a supplier of personal financial services, offering a range of insurance cover, credit cards, personal loans, savings products, car breakdown cover and travel money products.

Its customers are able to buy and manage personal finance services through Tesco stores, as well as online and over the phone.

The CML now has 111 members and 86 associates.

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