The new rates include two of the most competitive no fee mortgage products available, with a 1.88% rate for the 85% LTV fixed product for 2 years with no product fee, and a 1.78% rate for the 80% LTV fixed product for 2 years with no product fee.
All products will move onto the Tesco Bank Standard Variable Rate (currently 3.89%) at the end of the initial fixed rate period. Early Repayment Charges may apply during the initial fixed rate period.
David McCreadie, Managing Director at Tesco Bank, commented:
“At Tesco Bank, we want to help customers to buy or remortgage their home, and we are pleased to introduce our new reduced rates on a selection of our 2 year and 5 year mortgage products. Alongside our competitive rates, we also offer customers the unique added benefit of collecting Clubcard points on their mortgage repayments.”
