Tesco Bank launches a new range of mortgage products

Michael Lloyd

February 27, 2018

Tesco Bank has refreshed its mortgage range by launching 5-year fixes and reducing rates on 2-year, 3-year and 5-year fixes.

Highlights include a 2-year fixed at 90% LTV where customers can choose from a rate of 2.00% with a product fee of £995 or a rate of 2.27% without a product fee. There’s also a 2-year fixed deal at 95% LTV with a rate of 3.89% and no product fee.

There’s a 5-year fixed rate mortgage at 2.11%, available at 80% LTV with no product fee. At a rate of 4.00%, there is a 5-year fixed rate at 95% LTV.

Julian Hartley, director of mortgages, savings and loans, said: “I am delighted to be launching a new range of mortgage rates today, reducing the rates on a number of our 2-year, 3-year and 5-year fixed rate mortgage and remortgage products while offering one of the most competitive 5-year fixed rate mortgages on the market.

“This new range illustrates our continued commitment to offering our customers great value products they can rely on.

“As an extra little help, Tesco Bank Mortgage customers can also collect clubcard points on their monthly mortgage repayments, giving them access to a great range of Clubcard Reward Partners”.

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.

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