Sainsbury’s Bank two-year fixed mortgage at 1.43%, no fee, 75% LTV plus up to £400 shopping vouchers
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Sainsbury’s Bank two-year fixed mortgage at 1.43%, no fee, 75% LTV plus up to £400 shopping vouchers

Editor 23
Editor
Found 6th Oct
Sainsbury’s Bank is offering the following mortgage deal:

  • Two-year fix at 1.43%
  • Maximum 75% loan-to-value (LTV) – so you’re eligible if you have 25% deposit or equity.
  • No arrangement fee
  • Free valuation for all borrowers and free legals if you’re remortgaging
  • Overpayments of up to 10% of the outstanding balance allowed.

Moneyfacts has compared this mortgage to other deals and says: “The 1.43% two-year fixed rate from Sainsbury’s Bank enters the market as the lowest deal with no fee in its sector. With borrowers also able to enjoy a decent incentive package, this is likely to be a cost-effective choice for those borrowers looking to minimise upfront costs.”

To see the deal on the Sainsbury’s Bank website, click the link above then open the mortgage rates PDF.

Shopping reward
Taking out a mortgage with Sainsbury’s Bank also means you could earn a “shopping reward” of 5% of your grocery bill over two years.

To get this you need to:
  • Apply for a mortgage by 26 February 2018.
  • Use your Nectar card when you shop at Sainsbury's.
  • Earn up to £50 in vouchers every three months. This equates to a maximum reward of £400 over two years assuming you spend at least £1,000 every three months.

  • Excludes anything you spend in a Sainsbury's petrol station.
  • Excludes anything you don't earn Nectar points on.
  • Vouchers can only be spent in store, not online.

In my opinion this shopping reward is a nice little earner if the following apply:
  • The Sainsbury’s mortgage is the best one for your circumstances.
  • You shop at Sainsbury’s anyway - it’s not worth switching supermarkets for.

1.78% fee free 5 year fix 60% LTV (1.93% for 75% LTV
23 Comments

Brilliant deal. Thanks OP

If I’m just over halfway through a 2 year fixed deal with Santander, am I allowed to switch and pay a fee?

Do Sainsburys run this bank or is it under another of the bigger banks?

Not for me, after the two year fix to goes to 3.99% SVR, in two years time IMHO it's not going to be an ideal time to remortgage. Full details here sainsburysbank.co.uk/~/m…=en

1.78% on a 5 year fix fee freeis a better deal for me 1.93% for 75% LTV

rated hot op, for find
Edited by: "whatyadoinsucka" 6th Oct

kooks655 m ago

Do Sainsburys run this bank or is it under another of the bigger banks?


I believe it's run by another bank.

Sainsbury's Bank plc is a British bank wholly owned by Sainsbury's, a national supermarket chain in the United Kingdom. The bank began trading on 19 February 1997 as a joint venture between J Sainsbury plc and Bank of Scotland.
kooks657 m ago

Do Sainsburys run this bank or is it under another of the bigger banks?

In case you think rates are going up and you won't be able to fix cheaply at the end of a 2 year deal then HSBC is doing a 5 year fix at 1.94%

SET-UP FEES BREAKDOWN
Application Fee:£650

Product Fee:£99
Valuation fee:£0
Other Fees:£30
Cashback:£0

Overpayments allowed? Yes
Early repayment charge: 5% until 31-12-18, 4% until 31-12-19, 3% until 31-12-20, 2% until 31-12-21, 1% until 31-12-22
OTHER PRODUCT INFO
Exit fee:£0
Maximum LTV 80%
hsbc.co.uk/1/2…MSE
Edited by: "davewave" 6th Oct

great, thanks

flipper1186 h, 29 m ago

If I’m just over halfway through a 2 year fixed deal with Santander, am I a …If I’m just over halfway through a 2 year fixed deal with Santander, am I allowed to switch and pay a fee?


You are but check your terms, I can't believe you can leave with no penalty, I'm on a five year fix and I'd need to pay 3% which would pretty much negate any savings

flipper1187 h, 46 m ago

If I’m just over halfway through a 2 year fixed deal with Santander, am I a …If I’m just over halfway through a 2 year fixed deal with Santander, am I allowed to switch and pay a fee?



Hmmmm, if only there was a way of finding out such as reading your paperwork or contacting your lender. Nope, far better to ask total strangers on the internet.

Gordinho4 m ago

Hmmmm, if only there was a way of finding out such as reading your …Hmmmm, if only there was a way of finding out such as reading your paperwork or contacting your lender. Nope, far better to ask total strangers on the internet.

GTF

mocmocamoc1 h, 31 m ago

You are but check your terms, I can't believe you can leave with no …You are but check your terms, I can't believe you can leave with no penalty, I'm on a five year fix and I'd need to pay 3% which would pretty much negate any savings


tbh some mortgages have early leave penalties and a few don't, give your bank a call

davewave6 m ago

tbh some mortgages have early leave penalties and a few don't, give your …tbh some mortgages have early leave penalties and a few don't, give your bank a call

Yes, now I know it can go either way I’ll contact them. Thanks

Sainsbury's and Santander are both offering a two year fixed 1.39% deal with no fee. The lowest I could find fee free. This is with 60% LTV though

Low 5 year fixes suggest to me refinancing 2 years won’t be problematic.

What is the lowest fee-free tracker out there at the moment?

Does anyone know if they will help with doing the legal work for moving from YBS?

agnostic1 h, 12 m ago

Try www.cantbearsedtolookmyself.com


What a wit.

Original Poster Editor

flipper1186th Oct

If I’m just over halfway through a 2 year fixed deal with Santander, am I a …If I’m just over halfway through a 2 year fixed deal with Santander, am I allowed to switch and pay a fee?


You need to check the terms of your Santander mortgage for "early repayment (or redemption) charges", see if you have to pay a fee, how much, then calculate whether the switch is still worthwhile.

Has this deal expired can't see on Sainsbury's website

cartzuk6th Oct

Low 5 year fixes suggest to me refinancing 2 years won’t be problematic.


What make's you think that? It's been expected that the base rate will rise another 4-5 times by 2020. Apparently dates have been 'pencilled' in for another 2 rises next year. Obviously no one knows for sure what's going to happen, but with rates this low it's unlikely to get any lower. If the predications are accurate, in 2 years time rates the rates could be significantly higher.
Edited by: "garreh" 13th Nov
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