Tesco Bank removes booking fees on mortgages

More options for first-time buyers 

Tesco Bank has announced it’s simplifying the fee structure on its range of mortgages by removing all booking fees in a bid to make it easier for customers to select the right mortgage for them.

The move comes as the Bank lowers the rates on its 95% LTV (loan to value) fixed-rate products and makes its 95% LTV mortgages available through brokers for the first time.

David McCreadie, managing director, Tesco Bank said: “We aim to make banking as simple as possible for customers.

“We’ve listened to feedback and I am pleased that we have been able to simplify our range by removing booking fees to make the fee structure easier for customers.

“Widening our distribution to make 95% LTV mortgages available through brokers will also allow us to serve more customers, many of whom will be taking that important first step on the property ladder.”

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