Tesco Bank has added new mortgage rates across its range of mortgage products.
In addition, Tesco Bank is also now offering a new 1.99% two-year fixed rate mortgage at 60% LTV.
Tesco Bank product range:
| Product | Max LTV | £1,600 Product Fee Option Initial Rate | APR | Non-refundable booking fee |
| 2 Year Fixed | 60% | 1.99% | 4.0 | £195 |
| Product | Max LTV | £1,300 Product Fee Option Initial Rate | APR | £0 Product Fee Option Initial Rate | APR | Non-refundable booking fee |
| 2 Year Fixed | 70% 75% 80% | 2.29% (previously 2.39%) 2.59% (previously 2.89%) 3.19% (previously 3.39%) | 4.0 4.1 4.2 | 2.69% (previously 2.79%) 2.99% (previously 3.29%) 3.59% (previously3.79%) | 4.0% 4.1% 4.2% | £195 |
| 3 Year Fixed | 75% 80% | 2.49% (previously 2.79%) 3.49% (previously3.79%) | 3.9 4.2 | 2.79% (previously 3.09%) 3.79% (previously 4.09%) | 3.9% 4.2% | £195 |
| 5 Year Fixed | 70% 75% 80% | 2.79% 3.19% (previously 3.69%) 3.69% (previously 3.79%) | 3.8 4.0 4.2 | 3.19% (previously 3.29%) 3.59% (previously 4.09%) 4.09% (previously 4.19%) | 3.9 4.1 4.3 | £195 |
| 2 year Tracker | 70% 75% 80% | BoE +2.45% BoE +2.69% BoE +3.29% | 4.2% 4.2% 4.3% | BoE +2.95% BoE +3.19% BoE +3.79% | 4.2 4.2 4.3 | £195 |
Customers taking out a mortgage with Tesco Bank will also receive a ‘thank-you’ with Clubcard points as they repay their mortgage, collecting one point for every £4 on their monthly mortgage repayments.
David McCreadie, managing director of banking, said: “I am delighted that these rate reductions make Tesco Bank mortgages some of the most competitive on the market.
“We want customers to be able to choose from a range of mortgages that combine great rates, good service with the ‘thank you’ of Clubcard points, and believe our new products allow customers to do just that.”
