Tesco's 2 year fixed rate mortgage at 1.99% - you can do better.
Tesco's 2 year fixed rate mortgage at 1.99% has just been relaunched.
Tesco originally launched their sub 2% 2 year fixed rate mortgage last October, and at the time it was the cheapest rate available. The 1.99% fixed proved popular and the low rate deal was withdrawn just weeks later as funding was exhausted.
While the Tesco 2 year fix at 1.99% was the cheapest rate when it was originally launched this is not the case today. Since the launch of the Funding for Lending scheme many lenders have released sub 2% 2 year fixes.
Rates currently start as low as 1.74% making Tesco's mortgage a less attractive product. Also in addition to charging a higher rate Tesco also charge a high fee.
For 60% LTV Tesco offer 1.99%, however they are charging fees of £1,795 which makes the deal less competitive against the wider market.
There are cheaper deals on offer through Deal Direct, for instance the Chelsea BS offer a lower rate, lower fee deal at 1.74% for 60% LTV with fees of £1,695.
Whatever your deposit level or mortgage advance required independent 'whole of market' broker Deal Direct can review the market to find you the best deal on offer to match your circumstances.
We factor in all costs and fees to compare all lenders mortgages on a like for like basis to ensure you get the cheapest deal market wide.
To compare Tesco's 2 year fixed rate mortgage against all lenders offers call an adviser today.
Call Deal Direct for a cheap quote.
