You are here: Home - Mortgages - First Time Buyer - News -

Sainsbury’s Bank launches back into mortgages with rates from 1.34%

0
10/04/2017
Sainsbury’s Bank has re-launched its mortgage range with rates starting at 1.34%.

The bank will offer residential home purchase mortgages for first-time buyers and remortgages, lending into retirement for selected customers and for self-employed borrowers, across the whole of the UK.

Sainsbury’s Bank, which last offered mortgages in 2004, said it intends to offer buy-to-let products in the future.

The new range includes a two (fee and no fee options), and five-year fixed rate product, and a two-year tracker with with loan-to-values of up to 90%. It will consider customers aged up to 70 years old. The mortgages come with flexible features that allow overpayments, underpayments, and payment holidays.

Both home purchase and remortgages include a reward scheme for supermarket customers. The mortgages reward the customer loyalty of Sainsbury’s shoppers by letting them earn up to £200 a year in vouchers off their shopping, for two years.

Customers can contact the bank direct over the phone and speak to its team of mortgage advisers or apply through brokers London and Country or Legal and General Mortgage Club.

Catherine More, head of mortgages Sainsbury’s Bank, said: Mortgages and grocery shopping are some of our customers’ biggest household expenditures and we’re uniquely placed to help them out with both. Our customers asked us for choice and flexibility and our product features, as well as various advice options, give them just that.”

Andrew Hagger, financial expert at Moneycomms, said: “It is good to see a provider entering the mortgage market with such a competitively priced range of products across the full range of LTVs. The added bonus of a shopper reward is an innovative move that makes the deal even more appealing for Sainsbury’s shoppers – the option to earn up to £400 vouchers off shopping over two years is not to be sniffed at.”

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.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Hackers access bank details of 245,000 UK Wonga customers

Payday lender Wonga is contacting over 245,000 customers in the UK who may have been affected by a data breach.

Close