Reduced 5-yr mortgage gets 5-star rating | Product News - Moneyfacts

Product News

Reduced 5-yr mortgage gets 5-star rating

Reduced 5-yr mortgage gets 5-star rating

Category: Mortgages
Date: 20/11/2014

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 It is now over 6 months old so the content may be out of date.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 its five-year fixed rate mortgage deal, reinforcing its competitive edge and snaring it a five-star review.

The basics…

This mortgage has a rate of 2.89% fixed for five years, and is available at a loan-to-value (LTV) of 75%. A low fee of just £195 is payable.

The finer details…

First-time buyers, homemovers and those looking to remortgage are welcome to apply for this mortgage provided they have a 25% deposit. Remortgagors can benefit from an incentive package of free valuation and free legal fees, which will help to keep costs to a minimum.

All borrowers can profit from flexible repayment options; overpayments of up to 20% of the outstanding balance are permitted, and it is also possible to take payment holidays, provided certain conditions are met.

Why we like it…

This offering from Tesco Bank is an intriguing one and is likely to appeal to borrowers with the right deposit. The low fee, flexible payment options and, for remortgagors, the enticing incentive package combine to make this an undoubted Moneyfacts best buy.

The highest accolade of five Moneyfacts Stars has been awarded.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
Close