Tesco Bank has increased the rate on its two-year variable rate mortgage, but despite this, it has kept its precious place on the Moneyfacts charts thanks to its continued competitiveness.
This mortgage now has a variable rate of 1.45% until 30.6.18, the best rate for remortgages in its sector. It is available at a loan-to-value (LTV) of 75% and has a fee of £995.
Remortgagors in possession of a 25% deposit can benefit from a generous incentive package of free valuation and free legal fees. Borrowers can also take advantage of the option to make overpayments and take payment holidays, provided certain conditions are met.
The rate rise on this deal has failed to neutralise its competitiveness. Indeed, it continues to sit comfortably on the charts and boasts an enticing incentive package as well as some flexible repayment options. As a result, remortgagors on the hunt for an attractive deal are likely to pay attention to this 'outstanding' product.
Moneyfacts rating: Outstanding
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