Tesco Bank cuts two and five-year fixed rates

Tesco Bank has reduced rates on a selection of two and five-year fixed rate mortgage products.

Related topics:  Mortgages
Rozi Jones
1st February 2017
tesco bank shop
"We are delighted to reduce the rates on a selection of our two-year and five-year mortgage products, helping to make it more affordable for customers to buy or remortgage their home"

New two-year fixed rates include a 75% LTV at 1.64% with no product fee and an 80% LTV at 1.33% with a £995 product fee.

Five-year fixed rates start from 1.78% at 60% LTV with a £995 product fee. Also available is a 75% LTV at 2.19% with no fee.

Customers can make regular or lump sum overpayments of up to 20% of the outstanding balance each year during the initial rate period, without having to pay an Early Repayment Charge. All remortgage products also include free valuation and free conveyancing.

David McCreadie, Managing Director at Tesco Bank, commented: “At Tesco Bank, we are committed to helping customers make their move on the property ladder and we are delighted to reduce the rates on a selection of our two-year and five-year mortgage products, helping to make it more affordable for customers to buy or remortgage their home.

"We know that customers want to make their money go as far as possible and, as well as reducing selected rates, we are delighted to provide a little help by enabling our customers to collect Clubcard points on their mortgage repayments.”

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