Tesco Bank slashes mortgage rates
Tesco, which launched its range of mortgages in August 2012, has continued to strengthen its offering in the higher LTV bands by cutting its two-year 85% LTV fix to 2.79% and the three-year equivalent to 2.99%.
The direct-only lender will also offer two-year and three-year fixed rate 80% LTV products at 2.29% and 2.69% respectively. These products come with a £1,300 product fee, although the lender does offer fee-free equivalents.
All products reward borrowers with Tesco Clubcard points as they make repayments.
David McCreadie, managing director at Tesco Bank, said: “We want to be the bank for Tesco customers by delivering a choice of great value products that reward loyalty.
“Our new rates are amongst some of the lowest we have ever offered, and I am particularly pleased that customers continue to be rewarded with Clubcard points on their repayments”.