Tesco Bank has introduced 85% LTV fixed rate and tracker mortgages to its product offering.
The new products offer rates starting at 3.29%, 3.59% and 3.69% for two-year, three-year and five-year fixed rate products and 3.25% for a two-year tracker.
| Product | Max LTV | Initial Rate | APR | Product Fee | Non-refundable booking fee |
| 2-year Fixed | 85% | 3.29% | 4.2% | £1,300 | £195 |
| 3-year Fixed | 85% | 3.59% | 4.2% | ||
| 5-year Fixed | 85% | 3.69% | 4.2% | ||
| 2-year Tracker | 85% | 3.25% | 4.2% | £800 |
In addition, 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 at Tesco. said: “We aim to be the financial services provider of choice for Tesco customers by providing great value, good service and rewarding loyalty.
“We are committed to lending responsibly and our highly competitive mortgage range is now accessible to even more Tesco customers.
“Our mortgage products combine all the hallmarks that customers expect and deserve from a Tesco Bank mortgage; great rates, competitive fees and the added ‘thank-you’ of Clubcard points.”