2-yr fixed mortgage moves into charts | Product News - Moneyfacts

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2-yr fixed mortgage moves into charts

2-yr fixed mortgage moves into charts

Category: Mortgages
Date: 13/04/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Tesco Bank has reduced selected fixed rate mortgages by up to 0.20%. One of the deals to benefit is its two-year product, which has stepped up into the Moneyfacts charts as a result.

The basics…

This mortgage now has a rate of 3.09% fixed until 30.6.17, allowing it to rest comfortably among the top accounts of its sector. It is available at a loan-to-value (LTV) of 90% and has a low fee of £195.

The finer details…

This deal is open to all borrowers with a modest 10% deposit. Those looking to remortgage their property can benefit from an incentive package of free valuation and free legal fees.

All borrowers can profit from flexible repayment options, with overpayments of up to 20% of the outstanding balance and payment holidays permitted, provided certain conditions are met. As an added incentive, borrowers can earn 1 Tesco Clubcard point for every £4 spent on mortgage repayments and overpayments, offering extra benefit for Tesco shoppers.

Why we like it…

The rate cut to this two-year deal has sent it springing into the Moneyfacts charts, something that is bound to be noticed by borrowers. The low fee and the flexible repayment options enhance its attractive rate and make this a great all-round product for those with a more modest deposit.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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