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Tesco Bank adds new fixed rates to mortgage range

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Tesco Bank has introduced a new range of low-interest two, three and five year fixed rate mortgages.

The home purchase mortgages include a five year fix at 60 per cent LTV with an interest rate of 1.89 per cent and fees of £995. A five year fix at 2.14 per cent is also available with no product fee.

Tesco Bank has also introduced two year fixes at 1.94 per cent for 80 per cent LTV and 2.13 per cent for 85 per cent LTV with no product fees.

Tesco Bank managing director David McCreadie says: “We want to make it easier for customers to buy their home, and our new selection of competitive mortgage rates helps to make a new house purchase more affordable for customers as they take their next steps on the property ladder.”

Tesco Bank mortgage products offer Clubcard points as they repay their mortgage. Customers can collect one Clubcard point for every £4 on their monthly repayments. Customers can make regular or lump sum overpayments of up to 20 per cent of the outstanding balance each year during the initial rate period, with no Early Repayment Charge.

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The value of an investment and any income from it can fall as well as rise and you may not get back the amount originally invested. Forecasts and past performance are not a guide to future performance. Some information and statistical data herein has been obtained from sources we believe to be reliable but in no way are warranted by us as to their accuracy or completeness. These are Neptune’s views and as such this document is deemed to be impartial research. We do not undertake to advise you of any change to our views.

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