Rating based on 92 reviews

Tesco Bank

  • Home loans up to £1,000,000
  • Low-interest starting from 4.0%
  • Repayment up to 30 years

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Author Tesco Bank. Screenshot of Tesco Bank website.
[Accessed September 8, 2021]

About Tesco Bank

Their home loan brokers work specifically for you, not the lenders.

Along these lines, be it a home loan for your first home, new home, venture property, financing, or refinancing, you'll discover their insight, experience, and personnel administration to be precious.

Your Tesco Bank home loan adviser will

  • Listen to your needs.
  • Compare the most suitable home loans.
  • Look at approaches to save you considerable amounts.
  • Provide full counseling so you can make informed decisions.
  • Handle negotiations, paperwork, barriers, and points of interest.

Tesco Bank home loan services explained

When you use Tesco Bank, the mortgage lender you pick pays them a commission after settlement. That implies you don't pay them for your mortgage consultant's administration and ability. With Tesco Bank, you can save time, legwork, anxiety, and money.

Also, you'll never think about whether you passed up a great opportunity for something better. Purchasing property can be overwhelming. Attempting to discover and manage the home loan you need all alone is not ideal. The mortgage procedure can be complex, baffling, and lengthy. Not with Tesco as they will be there for you throughout your home loan journey.

Tesco Bank Services

Tesco Bank altered home loans are, at first glance, exceptionally clear the interest charged on your home loan is settled at a calculated rate for a certain time, as a rule somewhere around one and five years.

You can enjoy the freedom of choosing between fixed and variable interest rates for your home loan. With them, you can pick the most suitable home loan option for your budget. They will also assist in tailoring the perfect mortgage for you.

The interest rate on an altered home loan is generally marginally lower than a variable home loan rate.

Affordable home loan UK options

Settled home loans can be cash savers in times when interest rates are either high or unpredictable in any case, if interest rates drop, you can pass up a great opportunity for enormous funds.

Regardless of the way that mortgage interest rates have stayed comparatively low and steady lately, settled home loans have stayed well known, however maybe not as famous as variable home loans.

Repay your home loan faster

Numerous altered home loan items now have on offer gimmicks and adaptability that can help you pay off your home loan faster, for example, additional repayment and redraw options.

Tesco Bank – Home loan

  • Loan Type Home loans
  • Interest Rate from 4.0%
  • Loan Amount up to £1,000,000
  • Repayment 1 year to 30 years

Benefits of Tesco Bank

  • Receive instant decision 
  • You can apply for a repayment holiday
  • Early loan settlement

Get a 95% loan to value of your home loan from Tesco Bank

Your Tesco Bank home loan merchant accomplishes more than to simply discover the right lender and home loan for you.

They're your gifted moderator, master guide, and trusted comrade, close to you consistently. Securing a home loan today is often more troublesome than it was five or 10 years ago. Thus, as a borrower, there's never been a more suitable time to have a Tesco Bank home loan specialist in your corner. You can enjoy a range of benefits by getting a  Tesco Bank home loan.

Getting a home loan from Tesco

Tesco Bank has one of the most competitive home loan rates in the market and offers both fixed and variable interest rate home loans. They have a 95% loan to the value of your home loan available that allows first-time buyers to get a home loan with only a 5% deposit. They provide home loans in the UK to both new and existing customers whether you're buying your first home, remortgage, or moving house.

Tesco Bank has an affordable home loan product to suit your needs and budget. They provide home loans of up to £1 million with a maximum loan term of 40 years. When you're choosing to see if a settled home loan is a good fit for you, the most vital point to consider is to what extent you need to be bound into an altered rate. Altered rates are accessible for somewhere around one and ten years yet the most usual term is three years.

Tesco Bank home loan options

  • Fixed-rate home loans for 2, 3, and 5year periods with a comparison APR of between 3.6% and 4.0%, product fee of £800 to £1300 depending on loan to value ratio chosen.
  • Tracker mortgages for 2 years with a comparison APR of between 3.8% and 4.0%, product fee of £800 and £300 depending on loan to value ratio selected, and a booking fee of £195.
  • Fee saver range of fixed-rate mortgages with a fixed rate for a period of 2, 3, and 5 years with 0 product fees and a booking fee of £195.
  • Fee saver tracker home loan for 2 years with 0 product fees and booking fee of £195.

Requirements to apply for a home loan

  • 18 years or older.
  • Have an annual income exceeding £20,000.
  • Be a resident of the UK.

If your home loan price range is below £300,000 you can qualify with a deposit of just 5% and for home loans of up to £500,000 a 10% deposit is required. You can then proceed to contact one of their mortgage advisors telephonically to get the ball rolling or visit their website and apply online.

Benefits of a Tesco Bank’s home loan

  • Both variable and fixed-rate home loans are available.
  • Market-leading rates as low as representative 3.6% APR.
  • Initial interest rates as low as 1.69%.
  • Fee-free products are available.
  • 5% deposit home loans.
  • You can overpay up to 20% annually during the initial fixed or variable rate period.
  • Earn Clubcard points.
  • Apply online and receive a fast decision.

Customer Reviews & Testimonials

March 2021

The very best fixed rate home loan that I can afford from a bank I trust, thank you for all the help to get my home loan approved.

Jason W
— Birmingham —

August 2021

We had to take out a second mortgage on our home to do some alterations and add the needed bedroom, happy with our loan.

Angela H
— Liverpool —

September 2021

Thank you for your advice and to set me up with the right home loan, as a first-time buyer I was struggling to get the right loan.

Noah D
— Plymouth —

Tesco Bank Contact

Physical Address

Postal Address

  • Tesco Bank Loan Operations, PO Box 27014, Broadway One, Glasgow, G2 9FE, United Kingdom

Opening Hours

  • Monday Open – 24 Hours
  • Tuesday Open – 24 Hours
  • Wednesday Open – 24 Hours
  • Thursday Open – 24 Hours
  • Friday Open – 24 Hours
  • Saturday Open – 24 Hours
  • Sunday Open – 24 Hours