Tesco pulls 1.99% mortgage


Tesco Bank has withdrawn its popular 1.99% mortgage deal to customers with a 60% LTV after just a month because it proved too popular.

Customers waiting to hear about applications have been sent text messages this morning, advising them the deal has been withdrawn "due to high demand" but that if their applications are successful they will still get the mortgage rate they applied for.

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Positive response

A Tesco Bank spokesperson told Moneywise: "We received a very positive response to our recent 1.99% product, which has now been withdrawn as the funding for this product has been allocated.

"Tesco Bank continues to offer a highly competitive range of mortgage products with great rates that start at 2.39% for a two-year fixed-rate product."


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