Tesco Bank has introduced two new five-year fixed rate remortgage products.
It has also reduced the rates across a number of its two, three and five-year fixed rate house purchase and remortgage products.
The following new house purchase and remortgage products are available through Tesco Bank and Tesco mortgage intermediaries:
| Product | Max LTV | House Purchase (HP) or Remortgage (RM) | Rate | Product Fee | APR |
| 2 year fixed until 30/11/2019 | 85% 90% 90% 90% | RM HP HP RM | 1.74% 2.33% 2.04% 1.99% | £0 £0 £995 £995 | 3.6% 3.7% 3.7% 3.7% |
| 3 year fixed until 30/11/2020 | 60% 75% 80% 85% 90% | RM RM RM RM RM | 1.43% 1.92% 1.94% 2.09% 2.69% | £995 £0 £0 £0 £0 | 3.4% 3.4% 3.5% 3.5% 3.6% |
| 5 year fixed until 30/11/2022 | 75% 80% 80% 85% 85% 85% 90% | RM RM HP RM HP RM RM | 1.99% 1.94% 1.96% 2.14% 2.30% 2.34% 2.89% | £0 £995 £995 £995 £0 £0 £0 | 3.2% 3.2% 3.2% 3.3% 3.3% 3.3% 3.6% |
All products will move onto the Tesco Bank Standard Variable Rate (currently 3.89%) at the end of the initial fixed rate period. Early Repayment Charges may apply during the initial fixed rate period.
David McCreadie, managing director at Tesco Bank, said: “With more customers looking to take longer-term fixed rate mortgages, I am delighted that we can offer these market-leading rates as well as reducing the rates on a selection of our two-year, three-year and five-year products to help customers’ money go that little bit further.
“As an extra little help, Tesco Bank Mortgage customers can also collect Clubcard points on their mortgage repayments giving them access to a great range of Clubcard Reward Partners for savings on family fun, travel and eating out.”
