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.”