‘Outstanding’ 5-yr fixed mortgage enters charts | Product News - Moneyfacts

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‘Outstanding’ 5-yr fixed mortgage enters charts

‘Outstanding’ 5-yr fixed mortgage enters charts

Category: Mortgages
Date: 27/04/2016

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 It is now over 6 months old so the content may be out of date.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 shaved 0.06% off the rate on its five-year fixed mortgage, enabling it to elbow its way onto the charts and secure the top rating.

The basics…

This mortgage now has a rate of 2.53% fixed until 30.6.21, the lowest rate currently available for its terms. It is offered at a loan-to-value (LTV) of 80% and has a fee of £995.

The finer details…

This deal is open to all applicants with a 20% deposit and offers an incentive package of free valuation and free legal fees to remortgagors. All borrowers can make overpayments and take payment holidays, provided certain conditions are met. As an added bonus, it also offers the chance to accrue Tesco Clubcard points, with 1 point awarded for every £4 made in mortgage repayments.

Why we like it…

This new chart entry has plenty of appeal: as well as its highly competitive rate, it also boasts a generous incentive package for remortgagors and some flexible repayment options, all of which ensure that this deal fully deserves its place on the Moneyfacts charts and its 'outstanding' rating.

Moneyfacts rating: Outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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