Tesco Bank has cut the rates on a number of its two and five-year fixed rate mortgage deals.

New two-year rates include 1.88% for the 85% LTV and 1.78% for the 80% LTV. Both do not have a product fee.

David McCreadie, managing director at Tesco Bank, said: “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 two-year and five-year mortgage products.

“Alongside our competitive rates, we also offer customers the unique added benefit of collecting Clubcard points on their mortgage repayments.”