Sainsbury’s in talks with advisers to sell mortgage book for £1.3bn - reports

Sainsbury’s is in talks with financial advisers as it explores a sale of its mortgage book for £1.3bn.

According to The Daily Telegraph, Sainsbury’s is under pressure to “get back on the front foot” after its planned merger with Asda was knocked back by competition watchdogs in the spring.

Sainsbury’s Bank made a loss of £34m last year, compared to a profit of £25m the year before.

When contacted by MoneyAge, a Sainsbury’s Bank spokeswoman said it was “pure market speculation”.

Earlier this month, Tesco sold its mortgage book to Lloyds in £3.8bn deal.

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