Tesco Bank has reduced rates across a selection of house purchase and remortgage products.
There are two 2-year fixed rate remortgage products, both with a £250 cashback. There’s a 95% loan-to-value product at 3.35% and 90% LTV at 2.26%.
There are two 3-year fixed rate remortgage products, one at 95% LTVT at 4.09% and the other at 90% LTV at 2.49%. And there’s a couple of 5-year fixed rate remortgage products, both with a £250 cashback, one at 80% LTV at 2.23% and the other at 85% LTV at 2.34%.
All products will move onto the Tesco Bank Standard Variable Rate, currently 4.04%, at the end of the initial fixed rate period. Early repayment charges may apply during the initial fixed rate period.
Tesco Bank have also introduced extended end dates on our home purchase products, giving customers looking to purchase a new build property some much needed flexibility. This means that home purchase mortgages can now be valid for an extra three months from the date of offer.
All of its customers have the option to make overpayments of up to 20% without incurring a fee.
Tesco Bank mortgage customers also benefit from Tesco Clubcard points on their monthly repayments. Cashback products are only available for customers borrowing over £100,000. Cashback is paid on completion of the mortgage.