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Tesco Bank extends mortgage range

12th June 2013 Print

Tesco Bank has announced the expansion of its mortgage range with the introduction of 85% LTV fixed rate and tracker mortgages. The new products offer great rates starting at 3.29%, 3.59% and 3.69% for two year, three year and five year fixed rate products and 3.25% for a two year tracker.

Having previously offered mortgages with a maximum 80% LTV, this extension provides more choice for customers looking for mortgages with great rates and competitive fees, and significantly enhances Tesco Bank's already highly competitive mortgage portfolio.
In addition to the highly competitive rates, customers taking out a mortgage with Tesco Bank will also receive a ‘thank-you' with Clubcard points as they repay their mortgage, collecting one point for every £4 on their monthly mortgage repayments.
Commenting on the new products, David McCreadie, Managing Director of Banking, said: "We aim to be the financial services provider of choice for Tesco customers by providing great value, good service and rewarding loyalty. We are committed to lending responsibly and our highly competitive mortgage range is now accessible to even more Tesco customers. 
"Our mortgage products combine all the hallmarks that customers expect and deserve from a Tesco Bank mortgage; great rates, competitive fees and the added ‘thank-you' of Clubcard points."

Tesco Bank mortgage products are straightforward:

All provide customers with the flexibility to make regular or lump sum overpayments of up to 20% of the outstanding balance each year during the initial rate period, without having to pay an Early Repayment Charge.

Customers opting for a tracker mortgage can take advantage of a ‘switch and fix' facility that allows them to move to a fixed rate if they require greater financial certainty.

Customers can apply for up to two payment holidays per year.

Those remortgaging will benefit from free standard legal fees and the first standard valuation.

For more information on mortgages, visit