Tesco Bank

Tesco Personal Finance PLC

Phone: +44 (0)845 601 0900, ++44 (0)845 678 5678

2 Year Tracker Mortgage

Maximum 60% loan to value. Non-refundable booking fee £195 and product fee £800. Early Repayment Charges may apply during tracker rate period. Our mortgage offers can be withdrawn or changed at any time.
Interest Rate
A mortgage that lets you choose
A Tesco Bank Tracker Mortgage is flexible too:

Switch to a fixed rate mortgage - if interest rates rise, you can change to a fixed rate during the initial tracker period. So you'll know exactly how much your future payments will be - and there's no Early Repayment Charge. Fees may apply for your new mortgage rate.
Make overpayments - repay up to 20% of your mortgage a year during the initial tracker period and there's no Early Repayment Charge. After you make an overpayment you can't withdraw the money you've paid.
Choose your payment date - from the 1st to 28th of each month.
Take a payment holiday - after you've made six monthly payments, you could apply for a one month payment holiday. You can take two payment holidays in any 12 month period, and up to six over the term of your mortgage. After a payment holiday, your payments could go up.
Borrow more - made six consecutive monthly payments? You could apply for additional borrowing; handy if you want to build an extension or make home improvements. Choose from our range of rates that are available at the time. Fees may apply. Additional borrowing will increase the total amount you owe, the interest payable and your monthly payments.
Take your mortgage with you - our mortgages are portable, so if you move home in the future, you could keep your rate for your outstanding mortgage balance. Subject to assessment. Fees and charges may apply.

Collect Clubcard points with your Tesco Bank Mortgage
Every month – you'll collect one Clubcard point for every £4 of your monthly mortgage payment.
Overpay and collect – if you make a regular or lump sum overpayment, you'll collect one Clubcard point for every £4 you overpay.

Worried about rising interest rates?
Sometimes it's hard to know what interest rates will do next. So with a Tesco Bank Tracker Mortgage, you can switch to a fixed rate during the initial rate period if you need to.

The best of both worlds
Tracker mortgages link your payments to the Bank of England base rate. But with a fixed rate mortgage, your payments stay the same during the fixed rate period.

So we designed our tracker mortgages to help you benefit from both.

With a Tesco Bank Tracker Mortgage, you can switch to a fixed rate deal at any time during the initial tracker period, without an Early Repayment Charge.

So if interest rates rise, you can choose to switch to a fixed rate mortgage with fixed monthly payments. Fees may be payable for your new mortgage rate and fixed rate terms will apply.


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