"We’ve listened to feedback and I am pleased that we have been able to simplify our range by removing booking fees to make the fee structure easier for customers."
The move comes as the Bank lowers the rates on its 95% LTV fixed-rate products and makes its 95% LTV mortgages available through brokers for the first time.
David McCreadie, Managing Director, Tesco Bank, said: “We aim to make banking as simple as possible for customers. We’ve listened to feedback and I am pleased that we have been able to simplify our range by removing booking fees to make the fee structure easier for customers.
“Widening our distribution to make 95% LTV mortgages available through brokers will also allow us to serve more customers, many of whom will be taking that important first step on the property ladder.”
Tesco's mortgage range includes two-year fixed rates from 1.67%, three-year fixes from 1.99% and five-year fixes from 2.19%.
In May, Tesco Bank extended its broker distribution through First Mortgage Direct, Alexander Hall, Savills Private Finance and Springtide Capital mortgage brokers, as well as London and Country mortgage brokers.
In the coming months, Tesco mortgages will also be made available through the remaining firms in Legal & General’s Nouveau and Key Partners panel.
