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Tesco Bank offers first 90% LTV tracker mortgage

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  • 13/04/2015
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Tesco Bank has cut some rates by up to 0.8% and begun lending to 90% Loan to Value (LTV) on a tracker rate for the first time.

The new mortgage products include the 2.60% tracker mortgage at 90% LTV with a £300 product fee.

The lender has also launched a 1.29% rate on a two-year fixed rate at 60% LTV with an £800 product fee and a 2.29% three-year fix to 75% LTV, fee-free.

The mortgage lender is also offering a 2.89% rate on a three-year fixed at 85% LTV with no product fee.

Tesco Bank mortgages offer customers one Clubcard point for every £4 on their monthly repayments.

David McCreadie, managing director, banking at Tesco Bank, said: “We want to make it easier for customers to make a move on the property ladder. Our new mortgage products offer some of the most competitive rates available, and the introduction of our new 90% LTV two-year tracker rate widens the options available to customers.

“Tesco Bank mortgages provide customers with great value and award-winning customer service, with the added bonus of Clubcard points on their repayments.”

Tesco announced plans to extend distribution to the mortgage intermediary market earlier this year and hopes to launch in H1 2016.

 

 

 

 

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