The Co-operative Bank cuts fixed-rate mortgage range by up to 0.6%

Wednesday, 12 October 2011 11:35

The Co-operative Bank has slashed rates across its fixed-rate mortgage range, with some reductions as high as 0.6 percentage points.

From this Friday (October 14th), its five-year fixed deal will be available at 4.19 per cent on a loan-to-value (LTV) ratio of 75 per cent, a reduction of 60 basis points.

Meanwhile, the 85 per cent LTV five-year fixed option has been lowered by the same margin, to 4.49 per cent.

Other rate reductions can be found on the bank's two-year fixed deals, including a 0.2 percentage points drop to 3.39 per cent interest on 75 per cent LTV.

All of the three-year deals have seen rate decreases too of 40 basis points.

James Hillon, head of mortgages at the bank, remarked: "In a time of economic uncertainty our fixed rate products are proving popular for customers looking to manage their monthly outgoings.

"Not only have we cut the rates across our fixed term mortgage range but we've continued to hold our fees at the same price, while many other lenders increase theirs."

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