Tesco Bank has cuts rates on a number of its two and five-year fixed rate remortgage deals.

The new rates include:

• 1.79% for the 80% LTV fixed for two years with no product fee
• 2.29% for the 80% LTV fixed for five years with no product fee.

David McCreadie, managing director at Tesco Bank, said: “At Tesco Bank, we are committed helping to make it more affordable for customers to buy or remortgage their home, and we are pleased to reduce the rates on a selection of our two-year and five-year remortgage products, as well as introduce free valuations on some of our two-year house purchase products.

“As well as competitive rates and great service, we also offer customers the unique added benefit of being able to collect Clubcard points on their mortgage repayments.”