What types of mortgages do Tesco offer?
As with most of the high street banks, Tesco have a tracker mortgage that is linked to the Bank of England base rate initially, which will rise and fall with the bank’s base rate.
Alternatively you can opt for a series of fixed-rate deals. You can choose from a 2, 3 or 5-year fixed rate deal that will give you some peace of mind if the interest rates start to climb.
Of course you are free to take another fixed-rate term at the end of your current deal, which Tesco will help with. Unlike some banks the mortgages are portable (or transferable), too, so you can simply take the mortgage with you when you move house. If you’re re-mortgaging, Tesco Bank will even cover your standard legal fees for switching. Just be mindful that other additional fees might not apply.
You can also switch to a fixed-rate mortgage at any time if you opt for a tracker deal, although some fees may apply.
You even get Tesco Clubcard points on every mortgage payment. As the saying goes - “Every little helps!”
Of course every mortgage deal is subject to change, so keep an eye on our site and do a thorough comparison before committing to any mortgage deal.