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Tesco Bank cuts remortgage product rates

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  • 06/06/2017
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Tesco Bank cuts remortgage product rates
Tesco Bank has introduced a five-year fixed-rate remortgage product and cut the rate for a similar two-year offering.

Both deals are available at 60% loan to value (LTV).

The lender said its new five-year mortgage at 1.68% with a £995 product fee was now the lowest on the market.

It also cut the rate on its two-year remortgage product at 60% LTV with no fee to 1.53%.

Both products will move onto the lender’s standard variable rate (currently 3.89%) at the end of the fixed-rate period and early repayment charges may apply.

Tesco Bank managing director David McCreadie said: “We are pleased to introduce our new market-leading five-year fixed rate product for customers who are looking to remortgage their home, helping them to make their money go that little bit further.”

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