You are here: Home - First Time Buyers - News -

Every little helps, as supermarket bank chops its mortgage rates

Written by:
Every little helps, as supermarket bank chops its mortgage rates

Tesco Bank has reduced interest rates for homebuyers and remortgagors looking to fix their mortgage rate.

It has cut fixed rates on 16 mortgages for those with a modest 10% deposit right up to borrowers with 40% of the property’s value as equity.

The cuts to the lender’s two-, three- and five-year fixed rate mortgages are available on a fee-free basis or with a £995 fee.

The competitive new rates include a fee-free, five-year fixed rate for those with 25% upfront at 1.99%, and a 1.94% deal for those with a 20% deposit, which comes with a fee of £995.

Managing director of Tesco Bank, David McCreadie, said that five-year fixes remained popular with borrowers. He added: “As an extra little help, Tesco Bank Mortgage customers can also collect Clubcard points on their mortgage repayments.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Comments are closed.

Save money now!

See how much you could potentially save by remortgaging to a different product

Your Mortgage Guides

Your Mortgage Award Winners 2017-2018

Download our guide to the best mortgage lenders in the UK

Read More >

How much can you borrow?

A calculator designed to help you understand how much you can borrow towards your property
Read previous post:
University housing costs more than half of student loan

The majority of students (60%) spend more than half of their student loan on housing, according to new research from...