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Mortgages for existing current account customers

  • Fixed rate: Plan ahead with a fixed rate mortgage product. Your payments will be fixed for 2 years.
  • Tracker rate: Your monthly repayments will be calculated in line with the Bank of England Base rate with our tracker mortgages.

Would you like a Fixed Rate or Tracker Rate mortgage?


  • Fixed Rate

    • With our fixed rate mortgages you know exactly how much your monthly repayments will be, no matter what happens to the Bank of England Base Rate. So, if you're looking to keep a tight control of your monthly outgoings, one of these products could be perfect for you.
    • Now pick which deposit is right for you:

    • 15% deposit

      Mortgage Initial Rate/Period Standard Variable Rate Thereafter Overall cost for comparison (APR) Application Fee Early Repayment Charges Exit Fee
      Current Account Exclusive 2 Year Fixed*
      Fixed until 31/08/2014      		 3.99%
      (fixed) until 31/08/2014       		Our Standard Variable Rate currently 4.74% 4.7% £0 Early repayment charges are applicable until 31/08/14 £140

    • 25% deposit

      Mortgage Initial Rate/Period Standard Variable Rate Thereafter Overall cost for comparison (APR) Application Fee Early Repayment Charges Exit Fee
      Current Account Exclusive 2 Year Fixed*
      Fixed until 31/08/2014      		 3.69%
      (fixed) until 31/08/2014      		 Our Standard Variable Rate currently 4.74% 4.6% £0 Early repayment charges are applicable until 31/08/14 £140

    YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

    2 Year Fixed Rate for existing current account customers:

    • Minimum loan amount £50,000
    • Maximum loan amount £1,000,000
    • Maximum loans are subject to LTV limits

  • Tracker Rate

    • With our tracker rate mortgages your monthly repayments will be calculated in line with the Bank of England Base Rate. So, if the base rate goes down so will your repayments. Please note, if the base rate increases this will also be reflected in your monthly mortgage repayments.
    • Now pick which deposit is right for you:

    • 15% deposit

      Mortgage      Initial Rate/Period Rate mortgage will then change to for remainder of mortgage Overall Cost for comparison (APR) Application Fee Early Repayment Charges Exit Fee
      Lifetime Tracker for Current Account Customers * (Bank of england Base Rate plus 3.19%) 3.69% Variable n/a 3.8% £0 Early repayment charges are applicable until 31/08/15 £140

    • 25% deposit

      Mortgage      Initial Rate/Period Rate mortgage will then change to for remainder of mortgage Overall Cost for comparison (APR) Application Fee Early Repayment Charges Exit Fee
      Lifetime Tracker for Current Account Customers* (Bank of England Base Rate plus 2.29%) 2.79% Variable n/a 2.9% £0 Early repayment charges are applicable until 31/08/15 £140

    • 40% deposit

      Mortgage      Initial Rate/Period Rate mortgage will then change to for remainder of mortgage Overall Cost for comparison (APR) Application Fee Early Repayment Charges Exit Fee
      Lifetime Tracker for Current Account Customers* (Bank of England Base Rate plus 2.09%) 2.59% Variable n/a 2.7% £0 Early repayment charges are applicable until 31/08/15 £140

    YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

    Life Time tracker for Current Account customers

    • Minimum loan size £50,000
    • Maximum loan size £1,500,000
    • Maximum loans are subject to LTV limits

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

* Current Account exclusive lifetime mortgage tracker and Current Account exclusive 2 year Fixed Rate

  • Mortgage offer available to smile current account, smilemore account, standard current account, current account plus, privilege and privilege premier current account holders only.
  • All current account customers must have completed The Co-operative Bank switching service or have paid in at least two consecutive months mandated salary into their Co-operative account to qualify.
  • Mortgage must be paid via direct debit from a Co-operative Bank or smile account.
  • Please note that if the customer has not switched or mandated two monthly mandated salary payments into the qualifying current account on the completion day, funds will not be released to the customer.
  • Min loan size at sub account level for this product is £50k i.e. any sub account on this product must be at least £50k.
  • We reserve the right to switch customer to SVR if salary is no longer mandated via a Co-operative Bank or smile account.

Application and Booking Fee

You can pay your application fee when your mortgage completes or you can add it to your mortgage. If you choose to add this fee to your mortgage you will be charged interest on it during the term of the mortgage.

If you choose a product with a booking fee, it is non refundable and payable on return of your application. You cannot add this to your mortgage.

Fixed rate early repayment charges

You can overpay by up to 10% of the previous year end balance of your mortgage each year, additional payments over this will incur the following early repayment charges:

  • 2 Year Fixed Rate Mortgage

Tracker rate early repayment charges

You can overpay by up to 10% of the previous year end balance of your mortgage each year, additional payments over this will incur the following early repayment charges:

  • Lifetime Tracker for Current Account Customers

Please note that with the Lifetime Tracker, if you wish to switch to one of our Fixed rate products in the first three years, the early repayment charges will not apply. However application fees for the new mortgage may apply.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

How to apply