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An Avios windfall for anyone who has a Tesco Bank mortgage

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Back in May, we covered the announcement that Tesco Bank had decided to pull out of the mortgage market.

It was recently announced that Lloyds Banking Group had bought the ‘book’ in a £3.8bn deal.  It paid 2.5% over the face value of the outstanding loans.

It seems that Tesco Bank is being more than fair with compensation to mortgage holders who will no longer be able to collect Clubcard points on their mortgage payments.

Tesco Bank mortgage book sold to Halifax

For customers on a fixed rate or tracker mortgage, they will receive – in one chunk – all of the Clubcard points they would have earned over the remaining term of their fix or tracker deal.

For anyone on a standard variable rate, they will receive a one-off payment equivalent of 12 months of Clubcard points.  This is generous, given that the customer could then immediately remortgage.

The reader who sent me details was in line for a payout of 23,000 points, worth 55,000 Avios.

(Want to earn more Avios?  Click here to visit our home page for the latest articles on earning and spending your Avios points and click here to see how to earn more Avios from current offers and promotions.)

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Comments

  1. O/T but anyone tell me how the Virgin Credit card companion voucher works. Wondering if it triggers on spend or at next statement cycle. Also once it’s triggered where do you find the ticket?

    • stevenhp1987 says:

      Supposed to trigger right away. Mine took around 3 weeks.

      Appears as a line item on your flying club statement online. “Virgin Atlantic Reward+ Credit Card – Reward Qualification”

  2. OT: Have I missed the deadline for the Tesco – Virgin auto convert to get 1000 miles?

  3. O/T

    Looking to rent a car for a week in Oman. What do you savvy folk use to get the best value rentals? I usually go for kayak and/or priceline as aggregators, but I recall seeing suggestions on some other more obscure websites and/or codes.

    I’m an Amex Plat/Marriott Plat and have checked with Hertz but prices are much higher than kayak is offering me even with 15% discount, and no real need for an additional driver.

    Any input appreciated!

    R

    • Before I would even consider Hertz Ii would make absolutely sure that location is covered by both upgrade and free additional driver.
      I barely value the 5 star that comes with Platinum at anything

      • Yes I don’t think I’ll be using Hertz anyway.

        Random question, does Amex Plat car insurance cover going off-road? I’m going through the documentation and there’s nothing explicit about this as an exclusion, but they do have this as a clause:

        However, certain sports and activities are excluded. If You are going to take part in any sport or activity that could be considered dangerous or may fall outside usual holiday sports, please call American Express Platinum Card Services in advance of undertaking any such activity”

        TO be fair a lot of sports / activities could be considered DANGEROUS? Anyone have any experience with this?

        • Chrisasaurus says:

          Whether or not the Amex insurance covers it, the car rental agreement will quite specifically forbid it.

    • Australian Hertz site with Plat CDP

    • Lady London says:

      If you’re staying at a decent hotel I’d look at booking it through the hotel or at least asking them. Oman may be the kind of place where a quality local player with a reputation to protect would be better. For sure I’d only use Hertz if it’s a Corporate, I.e. Hertz-owned rather than franchised location.

    • @Clive (and any others using Easyrentcars.com)
      I’ve not been impressed by them so far, except on price. In short I think they are from the Accor (loyalty) school of customer service which is reply fairly promptly to emails but they’ll not answer the explicit question being asked, make it up as they go along and not look at it from the customer perspective (even if they are wrong).
      I’m not inclined to use them again.

    • You could also try dollar.com and orbitz.com – essentially accessing US rates, possibly without insurance. I’ve never had problems booking with either.

  4. OT: Is there a way to earn bluebiz on virgin flights with the virgin/flying blue merger?
    Also is there a refer a friend for the fyingclub?

  5. Rob any reason why my reply to the car hire question was not posted?

  6. Chrisasaurus says:

    Odd OT: Amex Plat car hire insurance, does anyone know whether it covers (UK) Motorhome rental? I know (or believe) it excludes vans, but what about recreational motorhomes? (<3.5ton)

    • Lady London says:

      I think Questor do vehicle Excess Hire for those if needed, if Amex cover excludes. Most dont cover them.

    • The car insurance that comes with your Amex card is from
      insurance4carhire.com
      check their website for T& Cs

  7. OT: Etihad Chauffeur service

    I know I can book online and enter the details of my arrival into AUH but that would book me a car immediately after I land. I would prefer to spend a few hours at the arrivals lounge before getting driven to Dubai. Would I be able to not book anything, go to the arrivals lounge and then ask the chauffeur desk for a car without booking in advance?

    • 5 yrs ago, so may have changed, it was only when you got to chauffeur area that they logged you as needing a car. The waiting area for this was in a lounge area. if that is considered the “arrivals lounge” you will not want to spend any time there.

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