Tesco Bank will offer mortgages

3 August 2012 Last updated at 19:05 ET


Points will accrue on the Tesco Clubcard as the mortgage is paid off

The supermarket group Tesco is to start offering mortgages via its Tesco Bank.
Its main gimmick is that holders of the supermarket's loyalty card, the Tesco Clubcard, can earn points as they pay off their mortgage each month.
All the deals on offer require at least a 20% deposit and the mainly fixed-rate deals have interest rates ranging from 3.19% to 5.09%.
Recently several big lenders have started offering long-term fixed-rate mortgages at less than 3% interest.
Ray Boulger of mortgage brokers John Charcol said:

Chizony