Tesco launches first 90pc LTV

Its 2-year products are 3.49% with an £800 product fee and 3.79% without, while both incur a £195 booking fee.

Tesco’s 3 and 5-year fixes stand at 3.99% and 4.29% with the £800 product fee included, while they are 4.29% and 4.59% with just the booking fee.

David McCreadie, managing director, banking at Tesco Bank, said: “Tesco Bank mortgages have a unique customer offering with their mix of rewards and competitive rates.

“The extension of our range into the 90% LTV market will allow us to help many more people make one of the most important purchases of their lives. We are helping more and more customers everyday with their banking needs and we have now lent more than £1bn to our mortgage customers.”

Tesco customers can collect one Clubcard point for every £4 spent on monthly repayments.

Customers can make regular or lump sum overpayments of up to 20% per year without having to pay an Early Repayment Charge.