The reductions mean Tesco Bank is offering a two-year fixed rate mortgage at 1.69% available up to 60% loan-to-value (LTV) for a fee of £1,300. For customers looking for a fee-free option the same product is available at 2.09%.
Further highlights from the range include a five-year fixed rate of 2.99% up to 75% LTV with a product fee of £1,300 and a fee-free alternative at 3.39%.
The Tesco Group has encountered a wave of corporate difficulties following the overstatement of its estimated half-year profits initially by £250m which caused the Financial Conduct Authority to launch an investigation.
By 23 October the profit overstatement had risen to £263m. A day later the retailer was downgraded by two rating agencies due to the accounting investigation.
