Tesco Bank has launched two “market-leading” mortgage products aimed at customers looking to remortgage their home.

The bank says two of its five-year rates are joint leading in the market, while it has also reduced the rates on a number of two and three-year products.

The two rates in questions are 1.99% at 75% LTV with no product fee, or 1.94% at 80% LTV with a £995 product fee.

Tesco's remortgage offers go up to 90% LTV, at which you can get a rate of 2.89%.

Its lowest three-year fixed remortgage rate is 1.43% at 60% LTV and its lowest two-year rate is 1.74% at 85%.

At the end of the initial fixed period, all products move onto the Tesco Bank standard variable rate, which is currently 3.89%.

David McCreadie, managing director at Tesco Bank, said: “With more customers looking to take longer-term fixed rate mortgages, I am delighted that we can offer these market-leading rates as well as reducing the rates on a selection of our two-year, three-year and five-year products to help customers’ money go that little bit further.

“As an extra little help, Tesco Bank Mortgage customers can also collect Clubcard points on their mortgage repayments giving them access to a great range of Clubcard Reward Partners for savings on family fun, travel and eating out.”

All of Tesco’s remortgage and house purchase products come with a free standard valuation.

Tesco Bank mortgage customers also earn one Clubcard point for every £4 paid on their monthly repayments.