Sainsbury’s withdraws tracker products

Ryan Bembridge

June 15, 2018

Sainsbury’s Bank has withdrawn its residential base rate tracker products.

The bank attributed the move to changing customer demand.

This change has coincided with the lender launching new 2 and 5-year fixed rate purchase and remortgage products.

A spokesperson for Sainsbury’s Bank, said: “We constantly review our rates and product offerings in order to remain competitive and best serve our customers.  Following a review of the market alongside the current demand from our customers, we have decided to focus entirely on our fixed range.”

New products for purchase included a 5-year fix at 3.59% to 95% loan-to-value with £500 cashback and a 2-year fix at 3.69% with no product fee and £1,000 cashback.

The society also refreshed a number of fixed rate mortgages for purchase and remortgage.

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