Tesco Bank mortgage is ‘outstanding’ | Product News - Moneyfacts

Product News

Tesco Bank mortgage is ‘outstanding’

Tesco Bank mortgage is ‘outstanding’

Category: Mortgages
Date: 09/02/2015

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 It is now over 6 months old so the content may be out of date.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 mortgage rates by up to 0.50%. One of the deals to receive a rate cut was the five-year fixed product, which has earned an outstanding rating as a result.

The basics…

This mortgage now has a competitive rate of 2.79% fixed until 30.4.20, enabling it to sit among the Moneyfacts best buys. It is available at 75% loan-to-value (LTV) and has a low fee of just £195.

The finer details…

First-time buyers, homemovers and remortgagors with a 25% deposit are all welcome to apply for this mortgage. Those looking to remortgage can benefit from an incentive package of free valuation and free legal fees.

This mortgage offers a welcome degree of flexibility with its repayment options. Both overpayments and payment holidays are permitted provided certain conditions are met, and all borrowers receive one Tesco Clubcard point for every £4 made in repayments and overpayments.

Why we like it…

This mortgage now has a very competitive rate thanks to this latest rate reduction, something that is sure to make it stand out for borrowers. Its appeal is further heightened by the low fee and the reward of Clubcard points for both repayments and overpayments. This is an outstanding product that fully deserves the highest Moneyfacts 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
Close