Co-operative Bank cuts mortgages rates

Thursday, 15 December 2011 02:18

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.

It will offer market-leading rates for both first-time buyers and anyone looking to remortgage, plus there will also be fee-free options available.

For example, someone taking out a two-year fixed rate product at a loan-to-value (LTV) ratio of 85 per cent will pay 3.79 per cent, while a customer choosing a five-year fixed deal at 90 per cent LTV will pay 5.09 per cent.

The Co-operative Bank's James Hillon said: "With the eurozone crisis seeing a wave of lenders pushing up mortgage rates we're committed to bucking this trend and encouraging movement in the housing market."

Last month, the Co-operative Bank's intermediary mortgage lender Platform introduced two new exclusive products for buy-to-let brokers; a one-year Buy-to-Let Options tracker product and a two-year Buy-to-Let Cashback tracker product.

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