Co-operative Bank: New two-year fix

Co-operative Bank launches new 60% LTV mortgages

The Co-operative Bank has announced that it is to launch a new range of mortgages at a loan-to-value (LTV) ratio of 60 per cent.
Co-operative Bank cuts mortgages rates

The Co-operative Bank has said this week that it is relaunching its fixed rate mortgage products so it can drop rates by as much as 0.6 per cent.

Thursday, 06 December 2007 12:00

The Co-operative Bank has launched a new two-year fixed-rate mortgage this week.

The deal is at 5.39 per cent until February 2010 with a £999 fee.

The maximum loan-to-value on the mortgage is 95 per cent and it comes with free basic valuation and legal fees for remortgagers.

It also allows the flexibility of overpayments or underpayments and there are no higher lending charges.

The maximum loan size is £300,000 and a three per cent early repayment charge stands over the first three years.

The overall cost for comparison is 7.5 per cent.

John Barker, head of mortgages at Co-operative Financial Services, said: "This new mortgage offers customers a very competitive rate, while at the same time providing them with reassurance the rate will remain fixed at this level for the first two years."

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