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Fixed rates chopped by Tesco Bank

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27/11/2015
'Every little helps' mortgage borrowers, as fixed rate mortgages are cut by Tesco Bank
Fixed rates chopped by Tesco Bank

Tesco Bank has cut its fixed rates and reduced its product fees on a range of its two-, three- and five-year mortgage deals.

The lender claims its new fixed rates are some of the most competitive on the market, in particular its five-year fix at 2.19%, available up to 60% of the property’s value. This deal charges an £800 product fee.

Other new fixed rates include:

  • A three-year fix at 2.34% up to 85% of the property’s value, with a fee of £800
  • A five-year fix at 2.59% up to 80% of the property’s value, with a fee of £800
  • A five-year fix at 2.79% up to 85% of the property’s value, with a fee of £800.

David McCreadie, managing director of banking at Tesco Bank, said: “We understand that customers are looking for great value mortgages and I am delighted that we can help customers with our new two-, three- and five-year fixed rate products, which are amongst the most competitive on the market.”

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