You are here: Home - News -

Tesco Bank increases rates on five-year fixes

  • 17/04/2018
  • 0
Tesco Bank increases rates on five-year fixes
Tesco Bank has increased rates on its fee-free five-year fixed rate purchase and remortgage products.

The changes affected deals between 60% and 80% loan-to-value (LTV).

The lender highlighted six products in its communication to brokers with the biggest increase being of 0.13% to an 80% LTV purchase deal, taking it to 2.24%.

Other products increased by between 0.03% and 0.07%.

All the deals allow overpayment of up to 20% of the outstanding balance each year, during the initial fixed or tracker period, with no early repayment charge.


Latest lender

It is the latest lender to increase rates this month, with Barclays and NatWest among those doing so to reflect rising swap rates.

The Tesco Bank changes were made yesterday, prior to economic data from the Office for National Statistics being published today.

This data has pushed the expectation of a further Bank of England Base rate rise in May to 85%.

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Read previous post:
Just Mortgages plans to more than double self-employed broker division

Just Mortgages has continued the expansion of it’s self-employed broker division with its 100th recruit and has plans to more...