Remortgage

Get more out of remortgaging

If your mortgage deal with another lender has ended, or is coming to an end, why not find out if switching to Tesco Bank could save you money? With our competitive interest rates and offers, you might even be able to pay off your mortgage sooner.

Explore the benefits of remortgaging

Our mortgage rates

We’ll crunch the numbers so you don’t have to. Discover and compare our latest mortgage products using our handy mortgage calculator.

How much could you save by switching your mortgage?

Your mortgage is probably your biggest financial commitment, so it’s worth exploring a remortgage deal from Tesco Bank. We know our rates are competitive so what’s the harm in taking a look? Our quick mortgage calculator works out what remortgage deals we could offer you and, if you want to borrow more, it can show you what your new monthly repayments would be.

Be mortgage-free sooner

You could pay off your mortgage early. During the initial rate period, you can overpay by up to 20% of the outstanding balance each year with no early repayment charge.

Are you on the right mortgage?

If you’ve had a mortgage for a while or your situation has changed, it’s worth thinking about whether a different type of mortgage might suit you better.

For example, if you are currently on a standard variable rate or a tracker rate product and are concerned about interest rates rising, you may want to consider switching to a fixed rate, which can offer you peace of mind that your payments will remain the same during the initial fixed rate period.

You may already have a fixed rate with your current provider that is shortly coming to an end. At Tesco Bank we can also offer you a range of competitive fixed rate mortgages.

Find out more about our fixed rate mortgages and current rates below.

Get a quote and apply for a decision in principle

If you know the valuation of the property you want to buy, it’s time to apply for your decision in principle. When you begin your application, whether it’s online or over the phone, make sure you have all the information you need to hand.

Prepare for your decision in principle.

Complete our Income and Expenditure form to help you prepare for your decision in principle.

Couple discussing buying a house

Your Offer in Principle

Couple checking paperwork

Once you’ve submitted your mortgage application, you’ll be asked to verify the information you’ve provided so you’ll usually have to give us proof of your identity, evidence of your income and outgoings, bank statements and details of the property.

If you are self-employed your accountant can use our accountant’s certificate to document your income.

Your Formal Mortgage Offer

Before we can send you a formal mortgage offer (which you must read, sign and send back to us) we will need to carry out a valuation of your property.

A valuation helps us to understand the condition of your property, the value and to ensure it meets our lending criteria.

If you're new to Tesco Bank mortgages we could help you save even more as your first standard valuation will be carried out at no extra charge.

If the remortgage product you apply for includes our free standard legal service either Optima Legal - a specialist property law firm, or Legal Marketing Services (LMS) - a conveyancing panel management specialist, will co-ordinate the legal work involved.

The free standard legal remortgage service provided by both Optima Legal and LMS includes a number of features designed to make the remortgage process as smooth as possible, including:

  • 24/7 online case tracking

  • Ease of contact through a wide range of communication channels, including Text/SMS updates

For more information see Tesco Bank’s Conveyancing service.

To get a clearer picture, use our mortgage calculator.

An iPad and other objects on a desk

Ready to apply?

Contact us - we're here to help

Need a few questions answered? Want to chat rather than scroll? Our UK-based teams are here to talk to you six days a week. Lines are open Monday to Friday 8am-9pm and Saturday 9am-4pm.

Call 0345 217 2050* to chat about new policies.

* These numbers may be included as part of any inclusive call minutes provided by your phone operator.