Tesco Bank launches new direct deals

Nia Williams

January 31, 2013

By Ryan Fowler

Tesco will now offer a new 2-year fixed rate at 2.28% for 60% LTV and a 5 year fix at 2.28%, previously 3.39%, for 70% LTV. Both products are available for a £1,495 product fee.

Other highlights include a new 5-year fix for 80% LTV at 3.79% and the 2-year fix for 70% LTV at 2.39%.

Customers will be able to collect one Tesco Clubcard point for every £4 of their mortgage repayments.

David McCreadie, managing director of banking at Tesco, said: “We are delighted to be offering a new range of competitive mortgages particularly as we enter one of the busier periods for the housing market.

“These products combine competitive rates and fees with the ‘thank-you’ of Clubcard points and underline our commitment to meeting the financial services needs of Tesco customers.”

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