Tesco Bank is now offering new mortgage deals with rates starting at 2.28% on a two- year fixed rate (at 60% LTV) and 2.89% (previously 3.39%) on a five-year fixed rate (at 70% LTV).
| Product | Max LTV | Initial Rate | APR | Product Fee | Non-Refundable booking fee |
| 2 Year Fixed | 60% | 2.28% | 4.1% | £1,300 | £195 |
| 5 Year Fixed | 70% | 2.89% | 3.9% | £1,300 | £195 |
The new range also includes a new five-year fixed rate (80% LTV) at 3.79% (previously 4.39%) and the two-year fixed rate (70% LTV) at 2.39%.
In addition, customers taking out a mortgage with Tesco Bank will also receive one Clubcard point for every £4 on their monthly mortgage repayments.
David McCreadie, managing director of banking, said: “We are delighted to be offering a new range of competitive mortgages, particularly as we enter one of the busier periods for the housing market.
“These products combine competitive rates and fees with the ‘thank-you’ of Clubcard points and underline our commitment to meeting the financial services needs of Tesco customers.”
