The Co-operative Bank reduces mortgage rates by up to 0.20 percent

In addition, two year fixed rates have reduced by up to 0.15 percent and three year fixed rate mortgages have reduced by up to 0.10 percent.

Highlights include five year fixed rates now starting from 2.49 percent at 70 percent Loan-to-Value (LTV) and two year fixed rates starting from 1.54 percent at 75 percent LTV. Both rates come with a £1,499 fee.

Three year fixed rates now start from 1.89 percent at 60 percent LTV, also with a £1,499 fee.

Stuart Beattie, Head of Mortgages said: “By reducing rates on a range of two, three and five year fixed rate mortgages, we maintain our commitment to offer competitively priced products to customers at all stages of the home buying process. Whether they are first-time buyers, home movers or simply looking to remortgage, we have something to suit everyone.”

New fixed rate mortgages at a glance:

2 year fixed rates reduced by up to 0.15%:

• £1,499 fee option starts from 1.54% (4.3% APR) at 75% LTV
• £999 fee option starts from 1.74% (4.3% APR) at 75% LTV
• £0 fee option starts from 2.54% (4.4% APR) at 75% LTV

3 year fixed rates reduced by up to 0.10%:

• £1,499 fee option starts from 1.89% (4.2% APR) at 60% LTV
• £999 fee option starts from 2.09% (4.2% APR) at 60% LTV
• £0 fee option starts from 2.94% (4.4% APR) at 60% LTV

5 year fixed rates reduced by up to 0.20%:

• £1,499 fee option starts from 2.49% (4.0% APR) at 70% LTV
• £999 fee option starts from 2.59% (4.0% APR) at 70% LTV
• £0 fee option starts from 3.09% (4.2% APR) at 70% LTV

Other features available include free legals for remortgagers¹ and £250 cashback for existing Co-operative Bank current account customers². Rates have also been reduced on higher LTV bands. At the end of the fixed rate period all products revert to the Bank’s Standard Variable Rate (SVR), which is currently 4.74 percent.

For full details of the The Co-operative Bank mortgage range please visit co-operativebank.co.uk/mortgages.