Britannia and Co-op launch new mortgages

New fixed-rate mortgages from The Co-op and Britannia

Two new fixed-rate mortgages have been launched by The Co-operative Bank and Britannia.
Co-op quits interest-only mortgage market for new customers

The Co-operative Bank will not allow new mortgage customers to take out a loan on an interest-only basis from May 8th but existing customers will be able to switch to a similar product.

Thursday, 15 April 2010 12:00

Britannia and The Co-operative Bank will launch new mortgages tomorrow (April 16th).

The two, three and five-year fixed-rate products are available at loan-to-values (LTVs) of 75 and 85 per cent, with rates starting at 4.19 per cent.

One of the highlights of the range is a five-year product with a 4.49 per cent rate at an LTV of up to 75 per cent, the two organisations say.

A fee of £999 is applicable to some of the mortgages, with the others being fee-free.

The mortgages are available at both Britannia and The Co-operative Bank at the same rates.

"Our current mortgage range is one of the most competitive in the market," comments John Hughes, business leader for The Co-operative Financial Services.

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