Before you apply for a Tesco Bank Mortgage consider the following to ensure you’re eligible:
About you • You're over 18 and you'll be less than 75 when your mortgage ends • Your annual household income is more than £20,000 • You are a UK resident, buying or remortgaging a property in the UK that will be your main residence • You have a UK bank account to make your mortgage payments from • You have a good credit history (e.g. not been declared bankrupt or have any outstanding arrears)
About the mortgage • You want a capital and interest mortgage • You want to borrow between £40,000 and £1,000,000 • You’ll need to have a minimum deposit/equity in your home of: - 5% for mortgages up to £300,000, - 10% up to £500,000, - 20% up to £750,000 and - 25% for mortgages up to £1,000,000 except if the property is a new build.
• Please note for new build properties, the maximum we will lend is: - 75% Loan to Value for flats and - 85% Loan to Value for houses.
We define new build as new, newly converted and previously unoccupied properties built within the last two years