Co-operative Bank launches new 60% LTV mortgages

Thursday, 19 January 2012 01:27

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.

From tomorrow (January 20th 2012), customers will be able to benefit from good rates on both fixed and tracker products if they have a deposit of 40 per cent.

For example, the two-year fixed-rate deal has an interest rate of 2.79 per cent, while the three-year deal offers 3.19 per cent.

There is also a 2.59 per cent variable fee-free lifetime tracker available for people who already have a current account with the Co-op.

Spokesperson James Hillon said: "Our 60 per cent LTV mortgages have been introduced to complement our existing mortgage products, which are designed to support all kinds of borrowing ranging from first-time buyers to remortgage customers."

Earlier this month, the Co-op said it would not be charging interest for existing customers with a pre-agreed overdraft until April 2012.

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