You are here: Home - Mortgages - Remortgage - News -

Tesco Bank unveils 1.68% five-year fix remortgage rate

0
Written by:
07/06/2017
Tesco Bank has introduced a five-year fixed-rate remortgage product and cut the rate for a similar two-year offering.

Both deals are available at 60% loan to value (LTV).

The lender said its new five-year mortgage at 1.68% with a £995 product fee was now the lowest on the market.

It also cut the rate on its two-year remortgage product at 60% LTV with no fee to 1.53%.

Both products will move onto the lender’s standard variable rate (currently 3.89%) at the end of the fixed-rate period and early repayment charges may apply.

Tesco Bank managing director David McCreadie, said: “We are pleased to introduce our new market-leading five-year fixed rate product for customers who are looking to remortgage their home, helping them to make their money go that little bit further.”

Charlotte Nelson, finance expert at data site, Moneyfacts, said: “The Tesco Bank 1.68% five-year fixed rate mortgage is highly competitive and enters the market as the lowest deal in the five-year sector, making this a great option for remortgagors looking to keep monthly repayments low.

“The 1.53% two-year fixed rate mortgage is also a competitive option sitting amongst the top five lowest two-year fixed rates with no fee. As a result this deal is likely to be a cost-effective choice for those with the required 60% deposit.”

Related Posts

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.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

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...

Money Tips of the Week