If you miss your monthly mortgage payment, please contact us on 0345 051 8447* as soon as possible to discuss your circumstances and to agree a resolution.
We’ll agree a reasonable amount of time with you in which you can pay back any missed payment(s).
Continuing to miss payments will affect your credit rating and may lead to charges. The charges are outlined in our Tariff of Charges PDF.
If you’re experiencing financial difficulties, we've included detail on our website to help you find out what options are available to you.
Your home may be repossessed, as a last resort, if you do not keep up repayments on your mortgage. Calls may be recorded. *This number may be included as part of any inclusive call minutes provided by your phone operator.
When you apply for a Tesco Bank Mortgage you may have to pay a product fee depending on what product you choose. There are a number of other fees you may have to pay when you are taking out your mortgage and when your mortgage is set up. These fees can cover the costs of:
Valuing your property
Making changes to your mortgage
Additional services for your mortgage
Missing a payment.
The fees and charges noted above are set out clearly in our Tariff of Charges.
You can view our Tariff of Charges PDF.
There are also other fees, such as stamp duty and legal fees, to think about before you apply for a mortgage. For more information on fees and charges visit the "Mortgage fees and charges” section on our website.
You can collect 1 Clubcard point for every £4 of your monthly payments, or if you make an overpayment, providing any overpayment does not repay your mortgage in full. Remember, Early Repayment Charges apply when you overpay above the agreed limit.
You can view the number of Clubcard points you’ll collect from your mortgage payments each month through Tesco Bank Mortgages online banking service once your mortgage is set up. We’ll ask you to register for online banking when you apply for a Tesco Bank Mortgage.
You can see how many Clubcard points you have in total and manage your Clubcard Account on the Clubcard website. Your points will also be shown on your statement which is available online and will be sent to you in the post by Tesco.
If you have a complaint or any concerns regarding your Tesco Bank Mortgage you can contact us on: 0345 051 8446*.
We're open 8am - 9pm Monday to Friday and 9am - 4pm Saturday.
Calls may be recorded. *This number may be included as part of any inclusive call minutes provided by your phone operator.
Or you can write to us at:
Tesco Bank Mortgage Operations PO Box 1214 Cheltenham GL50 9WL
Clubcard points collected with your Tesco Bank Mortgage will be added to your Clubcard Account within six weeks of your monthly mortgage payment.
You can see how many Clubcard points you have in total and manage your Clubcard Account at the Clubcard website.
The Tesco Clubcard scheme is administered by Tesco Stores Limited who are responsible for fulfilling points.
There is no limit to the number of quotes you can get for a Tesco Bank Mortgage, or a limit to the number of Mortgage Illustrations you can request. Please be aware however that a Mortgage Illustration is only valid on the day it’s produced.
Countrywide Property Lawyers are an independent firm of conveyancers who previously provided specialist conveyancing services for us. Tesco Bank’s Conveyancing service is now provided by Legal Marketing Services (LMS) and Optima Legal Ltd.
You can’t make your mortgage payments online. You need to make your monthly mortgage payments by Direct Debit, which we’ll set up for you when you apply.
You can check and make some changes to your mortgage account with online banking such as:
* Check your current interest rate or your outstanding balance * View the amount of your next payment and when it's due * Keep track of the Clubcard points you earn each month * Change your payment date, bank details or Clubcard number
To find out more about managing your mortgage online, please visit our website.
We’ll backdate your points to the date of your first monthly payment if you call us to let us know your Clubcard number within three months of your mortgage being set up.
The Clubcard scheme is administered by Tesco Stores. Tesco Stores are responsible for fulfilling points.
You don't need to take mortgage advice from Tesco Bank.
If you decide to apply without advice, you can complete our Execution Only mortgage application online.
We'll ask you to confirm:
* you meet our eligibility criteria * the amount you want to borrow * how long you want the mortgage fixed for, either two, three or five years * how long you want to take the mortgage out for (the term) * the value or purchase price of your property, whichever is higher
You'll also need to confirm you understand you've not received advice about the
mortgage you've chosen and you're fully responsible for the choice you've made.