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Tesco Bank slashes mortgage rates

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Written by:
15/11/2013
Tesco Bank has reduced rates on a number of mortgage products across its range.
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”.

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