Tesco Bank has launched three new fixed rate mortgage products over two, three and five years at 60% LTV.
In addition, rates on its range of tracker mortgages have been significantly reduced. All other products remain unchanged.
Customers taking out a mortgage with Tesco Bank will also receive Clubcard points as they repay their mortgage, collecting one point for every £4 on their monthly mortgage repayments.
New fixed rate products:
|Product||Max LTV||£1,300 Product Fee Option|
|APR||Non-refundable booking fee|
|2 Year Fixed||60%||1.74%||3.9||£195|
|3 Year Fixed||60%||2.29%||3.9||£195|
|5 Year Fixed||60%||2.49%||3.8||£195|
New tracker products:
|Product||Max LTV||£800 Product Fee Option Initial Rate||APR||£195 Product Fee Option Initial Rate||APR||Non-refundable booking fee|
|2 year Tracker||70%|
David McCreadie, managing director of banking, said: “The new fixed rate and tracker products we have announced today provide outstanding value to customers.
“We aim to provide customers with a combination of strong rates, competitive fees and the ‘thank you’ of Clubcard points, that puts us in a unique position to meet the needs of Tesco customers.”