New mortgage products have been announced by Tesco Bank offering competitive rates and fees.
Three new fixed rate products have been introduced by the bank over two, three and five years at 60 per cent LTV, while rates on its range of tracker mortgages have been significantly reduced. All other products remain unchanged.
Tesco Bank’s two, three and five year fixed rate mortgage and two year base rate tracker provide customers with a choice of straightforward fees.
Customers can also collect a bonus of one point on their Tesco Clubcard for every £4 on their monthly mortgage repayments.
Announcing the new rates, David McCreadie, Managing Director of Banking, commented: “The new fixed rate and tracker rates provide outstanding value to customers. We aim to provide customers with a combination of strong rates, competitive fees and the ‘thank you’ of Clubcard points, that puts us in a unique position to meet the needs of Tesco customers.”
All products will move onto the Tesco Bank Standard Variable Rate (currently 4.24 per cent) at the end of the initial fixed or tracker rate period. Early Repayment Charges apply during the initial rate period.
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