This news item is intended for use by journalists and media professionals. If you are a customer looking for information on our products and services, please visit our Help & Support section. 


13 November 2015

The Co-operative Bank relaunches market leading rates on two 90% LTV mortgages


  • Highly competitive two year and five year fixed rate mortgages with only 10 per cent deposit
  • Other mortgage rates reduced by up to 0.45 per cent


The Co-operative Bank has launched a highly competitive range of mortgages, including low rate two year and five year fixed deals with 90 per cent Loan To Values (LTVs).

The two year fixed rate mortgage of 2.24 per cent with only 10 per cent deposit is available with a £1,499 fee and the five year fixed rate mortgage of 3.34 per cent, also with only 10 per cent deposit, is available with a £1,499 fee. Other changes include a 0.45 per cent rate reduction to the two year fixed rate mortgage at 90 per cent LTV, with the new rate of this fee-free deal at 2.99 per cent. In addition, a new three year fixed rate deal for those looking to re-mortgage is available at a rate of 1.79 per cent for 60 per cent LTV, with a £1,499 fee.

The mortgage rate reductions announced today illustrates The Co-operative Bank's continued commitment to first time buyers, with 9 out of 10 first time buyers who complete pre-application checks being approved by the Bank. In total, rates have been reduced across the range with more than 80 mortgage options for both new and existing borrowers with rates being reduced by between 0.05 and 0.45 per cent.

First time buyers can find out how much they can borrow online, by going into their local branch of The Co-operative Bank or by calling the contact centre, and a decision in principal can be achieved within 30 minutes.

Stuart Beattie, Head of Mortgages at The Co-operative Bank, said: “We our continually re-evaluating our mortgage products to ensure that we’re offering competitive rates to those looking to take a mortgage for the first time, moving home, or remortgaging.

“The new rates on our two year and five year fixed rate mortgages at 90 per cent LTV, proves our commitment to helping those looking to get their first foot on the property ladder with competitively priced products offering fee and fee-free options.

“We are also offering a range of competitive rates for customers wishing to move or remortgage.”


New market leading fixed rate mortgages at a glance:


Two year fixed rates:

  • Maximum 70 per cent LTV rate of 1.34 per cent with a £1,499 fee
  • Maximum 80 per cent LTV rate of 1.54 per cent with a £1,499 fee
  • Maximum 85 per cent LTV rate of 1.69 per cent with a £1,499 fee
  • Maximum 90 per cent LTV rate of 2.24 per cent with a £1,499 fee


Three year fixed rates:

  • Maximum 60 per cent LTV rate of 1.79 per cent with a £1,499 fee
  • Maximum 70 per cent LTV rate of 1.94 per cent with a £1,499 fee


Five year fixed rates:

  • Maximum 70 per cent LTV rate of 2.39 per cent with a £1,499 fee
  • Maximum 90 per cent LTV rate of 3.34 per cent with a £1,499 fee


Other features of The Co-operative Bank's mortgages include: free valuations and legals for remortgagers1 and £250 cashback for existing Co-operative Bank current account customers.2 At the end of the fixed rate period all products revert to the Bank's Standard Variable Rate (SVR), which is currently 4.74 per cent. Customers will welcome extended opening hours enabling them to speak to an advisor from Monday to Friday 9am-8pm and Saturday 9am-5pm by calling 0800 234 6761.

For full details of the The Co-operative Bank's mortgage range please visit


Rates correct as at 10am Friday 13th November 2015

For further information contact The Co-operative Bank Press Office.


Notes to editors:

About The Co-operative Bank

The Co-operative Bank plc provides a full range of banking products and services to almost 5 million retail and SME (Small and Medium Sized Enterprise) customers. The Bank is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used. Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.


1. Free legals/conveyancing relates to the initial valuation and legals only (any subsequent conveyancing fees are met by the customer) and on the condition that this service is provided by one of the Bank’s chosen conveyancers who will act entirely on behalf of the Co-operative Bank. This service will exclude non-standard disbursements i.e. telegraph transfer fee to repay the existing lender, postponement of other secured loans and any additional work not associated with a standard remortgage such as transfer of equity. The Co-operative Bank will also meet the cost of obtaining a single standard valuation using one of the Bank’s chosen surveyors, and in certain circumstances the Bank may choose to use an automated method to ascertain the value of the property, subject to certain terms and conditions. More details can be found on

2. Cashback offer available on house purchases and remortgages to new mortgage customers only who don’t already hold a Co-operative Bank or Britannia mortgage. Customers must hold a standard current account, standard current account plus, privilege or privilege premier current account, smile current account or smile more account for a minimum of 3 months and the mortgage must be paid by direct debit from a Co-operative Bank account. The £250 is paid directly to the solicitor on completion of mortgage. Depending on the method they choose to have any surplus funds paid to them, there may be a charge by the solicitor.