The Co-operative Bank and Sainsbury's Bank have called off talks about a £650m mortgage deal after failing to agree on a price for the supermarket-owned portfolio
The Co-operative Bank and Sainsbury's Bank have called off talks about a £650m mortgage deal after failing to agree on a price for the supermarket-owned portfolio.
Sky News understands that the former mutually owned lender is no longer in talks about buying the book from Sainsbury's Bank.It was unclear on Monday evening whether Sainsbury's Bank was proceeding with another party or discontinuing the sale process.Starling Bank also expressed an interest but withdrew from the auction months ago, the insider added.
A sale would herald Sainsbury's Bank's formal exit from the UK mortgage market after it ceased new lending in 2019.
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