Tesco enters mortgage market

The highly-anticipated launch of the direct-only range, offered at a 70% to 80% Loan to Value, includes a three and five-year fixed rate mortgage, and a two-year base rate tracker. Rates start at 3.19% for a two-year fix offered to a maximum 70% and all loans will come with a flat booking fee of £195 and a £800 or £0 product fee. The Standard Variable Rate is 4.24% and the maximum loan amount will be £500,000. The bank confirmed it has no plans to sell through brokers and the non-advised mortgages will be offered online and via a call-centre six days a week. The purchase and remort...