Tesco Bank is reducing rates on a selection of its two-year and five-year fixed rate mortgage deals.
New rates include:
- 1.58% for the 60% LTV fixed for two years with no product fee
- 1.89% for the 80% LTV fixed for two years with no product fee
- 1.88% for the 60% LTV fixed for five years with £995 product fee
- 1.48% for the 80% LTV fixed for two years with £995 product fee
“At Tesco Bank, we want to make it easier for customers to take the next steps on the property ladder,” said David McCreadie, managing director at Tesco Bank.
“We’re delighted to kick-start 2017 by reducing the rates on a selection of our mortgage products, helping to make it more affordable for customers to buy or remortgage their home.”
Tesco Bank Mortgage customers collect Clubcard points as they repay their mortgage. Customers can collect one Clubcard point for every £4 on their monthly repayments.
Customers can also make regular or lump sum overpayments of up to 20% of the outstanding balance each year during the initial rate period, without having to pay an Early Repayment Charge.
All remortgage products from Tesco Bank also include free valuation and free conveyancing.