Tesco Bank announces lower rates across remortgage range

Tesco Bank has reduced rates across its range of remortgage products.

The new rates have been introduced to the bank’s two-year fixed rate remortgage product available at both 95 per cent and 90 per cent LTVs, with the former cut to 3.35 per cent and the latter, 2.26 per cent.

This offer is accessible until 31 March 2021 and both options come with £250 cashback.

The bank is also offering a three-year remortgage product available until 31 March 2022. The 95 per cent LTV option is set at 4.09 per cent, while the 90 per cent LTV has a rate of 2.49 per cent.

Additionally, Tesco Bank has made amendments to its five-year remortgage range with the addition of an 80 per cent LTV product at 2.23 per cent, as well as an 85 per cent LTV product with rates starting at 2.34 per cent.

Both options are available until 31 March 2024 and come with £250 cashback.

At the end of the initial fixed rate period all of the products will move onto the Tesco Bank SVR, which is currently 4.04 per cent.

The bank reports it has also extended the end dates on its home purchase products by an extra three months.

Furthermore, customers have the option to make overpayments of up to 20 per cent, and mortgage customers can use Tesco Clubcard points on their monthly repayments.


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