Tesco Bank Extends Broker Service

Tesco Bank is to help more customers buy their home by adding a new intermediary to its broker service. From today, customers can now access Tesco’s competitive range of mortgages through the Openwork mortgage panel. Tesco Mortgage Intermediaries is designed to provide brokers with one of the easiest and most convenient services available. The service includes a number of features to help brokers make the transaction as straightforward as possible, including searchable lending criteria, webchat, and the ability to scan and upload documents and track the status of applications from any device. Brokers are able to contact Tesco Intermediaries by phone or online using the Bank’s webchat functionality. David McCreadie, Managing Director, Tesco Bank said: “We’re committed to helping as many customers as possible to buy their home. The addition of Openwork to our broker panel will ensure that Tesco mortgages are available to even more customers and I am delighted to announce this news.” Paul Shearman, Mortgage Proposition Director at Openwork, said: “I’m delighted that Tesco Bank mortgages are now available through our panel. Not only does Tesco Bank offer a well-known and respected brand, it has invested heavily in designing its intermediary portal that addresses many of the issues that prove challenging for advisers.”

Product	Max LTV	Fee Product	Product Fee	APR	No Fee Product	APR
2 year fixed until30/09/2018	60% 75% 80% 85% 90% 95%	1.67% 1.74% 1.84% 1.89% 2.28% N/A	£1,300 £1,300 £995 £995 £995 N/A	3.9% 3.9% 3.9% 4.0% 4.0% N/A	1.97% 2.04% 2.14% 2.19% 2.58% 3.74%	3.9% 3.9% 3.9% 4.0% 4.0% 4.3%
3 year fixed until 30/09/2019	60% 75% 80% 85% 90% 95%	1.99% 2.09% 2.34% 2.34% 2.99% N/A	£995 £995 £995 £995 £995 N/A	3.8% 3.8% 3.9% 3.9% 4.0% N/A	2.19% 2.29% 2.54% 2.54% 3.19% 3.99%	3.8% 3.8% 3.9% 3.9% 4.1% 4.4%
5 year fixed until 30/09/2021	60% 75% 80% 85% 90% 95%	2.07% 2.34% 2.44% 2.64% 3.24% N/A	£995 £995 £995 £995 £995 N/A	3.5% 3.6% 3.7% 3.7% 4.0% N/A	2.19% 2.46% 2.56% 2.76% 3.36% 4.29%	3.5% 3.6% 3.7% 3.7% 4.0% 4.5%
2 year tracker until 30/09/2018	60%       75%     80%     85%     90%	1.22% (BoE* base rate plus 0.97%)   1.29% (BoE base rate plus 1.04%)   1.44% (BoE base rate plus 1.19%)   1.59% (BoE base rate plus 1.34%)   2.25% (BoE base rate plus 2.00%)	£995       £995     £995     £995     £995	3.9%       3.9%     3.9%     3.9%     4.1%	1.52% (BoE base rate plus 1.27%)     1.59% (BoE base rate plus 1.34%)   1.74% (BoE base rate plus 1.49%)   1.89% (BoE base rate plus 1.64%) 2.55% (BoE base rate plus 2.30%)	3.9%       3.9%     3.9%     3.9%     4.1%