Tesco Bank has launched a new line of competitive mortgage deals across its entire product range.
As a result of several reductions, customers will be able to benefit from a two-year fixed rate mortgage at a maximum loan-to-value (LTV) of 80 per cent at 3.19 per cent, down from 3.39 per cent, plus a five-year fixed rate mortgage at 70 per cent LTV at 3.19 per cent instead of 3.69 per cent.
In addition to the new rates, Tesco Bank is rolling out a new 1.99 per cent two-year fixed rate mortgage at 60 per cent LTV.
David McCreadie, managing director of banking at the firm, said he is delighted the new cuts make Tesco Bank mortgages some of the most competitive on the market.
“We want customers to be able to choose from a range of mortgages that combine great rates, good service with the ‘thank you’ of Clubcard points and believe our new products allow customers to do just that,” he continued.
At present, Tesco Bank is the largest supermarket bank in the UK and its customers hold 6.5 million accounts collectively.
