You are here: Home - Mortgages - Buy To Let - News -

Tesco Bank makes first mortgage range cuts

Written by:
Tesco Bank has made the first set of rate reductions to its recently launched mortgage range.

The lender, which launched its first set of mortgages last month, has made changes to a number of fixed and tracker mortgages in its range.

Tesco Bank’s two-year fixed rate mortgage has been cut from 3.19% to 2.99% while its three-year fix is lowered by 0.41% to 3.28%. A five-year fix has also been reduced by 0.5% to 3.39%.

All three new products are available up to 70% LTV with a £195 booking fee and £800 product fee.

A two-year tracker has also been reduced to 2.95% and is available up to 70% LTV with the same fees. All products are open to homebuyers and remortgage customers.

Tesco Bank customers will continue to be rewarded with Clubcard points as they repay their mortgage at a rate of one point for every £4 repaid on their monthly mortgage.

David McCreadie, managing director of banking at Tesco Bank, said: “We’re pleased to offer customers some good news by reducing our rates to as low as 2.95%.

“Today’s rate changes once again underline Tesco Bank’s commitment to offering highly competitive banking products which meet our customers’ needs today and as they continue to bank with us into the future.”

Tag Box

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.

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

How to help others and donate to food banks this winter

This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...

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.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week