Tesco Bank removes booking fees and cuts 95% LTV rates

Ryan Bembridge

July 14, 2016

Tesco Bank has removed booking fees and lowered rates on its 95% loan-to-value products.

Its 95% LTV rates stand at 3.74% for a 2-year fix, 3.99% for a 3-year fix and 4.29% for a 5-year fix.

The lender still charges product fees on some mortgages which are paid up front or added to the total mortgage amount.

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David McCreadie, managing director, Tesco Bank said: “We aim to make banking as simple as possible for customers.

“We’ve listened to feedback and I am pleased that we have been able to simplify our range by removing booking fees to make the fee structure easier for customers.

“Widening our distribution to make 95% LTV mortgages available through brokers will also allow us to serve more customers, many of whom will be taking that important first step on the property ladder.”

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