The Co-operative Bank launches market-leading two year fixed rate mortgage at 90 per cent LTV
22 January 2016
- Two year fixed rate deals from 2.14 per cent with 90 per cent LTV
- 90 per cent LTV mortgages reduced by up to 0.20 per cent
The new deals start from 2.14 per cent for 90 per cent Loan to Value (LTV), with a £1,499 fee fixed for two years, perfect for first time buyers.
The three year fixed rate is 2.89 per cent and five year fixed rate at 3.24 per cent, both with 90 per cent LTV and a £1,499 fee.
In addition, all of the two, three and five year fee-free deals, ideal for those looking to re-mortgage, have reduced by 0.20 per cent. The two year fixed rate mortgages start from 2.14 per cent for 60 per cent LTV, three year fixed rates from 2.64 per cent for 60 per cent LTV and five year fixed rates start from 2.79 per cent for 60 per cent LTV.
Stuart Beattie, Head of Mortgages at The Co-operative Bank, said: "We are delighted to be starting the year by introducing a market-leading, accessible range of fixed rate mortgages.
"The high loan-to-value deals are ideally suited for first time buyers and by reducing rates on a range of two, three and five year fixed rate mortgages, with a variety of LTVs, means we maintain our commitment to offer competitively priced products to customers at all stages of the home buying process."
The full range of two, three and five year fixed rate mortgages are also available with a £999 fee, starting from two year fixed at 1.49 per cent with 60 per cent LTV up to 2.34 per cent with 90 per cent LTV, three year fixed from 1.94 per cent with 60 per cent LTV up to 3.04 per cent with 90 per cent LTV, and five year fixed from 2.34 per cent with 60 per cent LTV up to 3.34 per cent for 90 per cent LTV.
The Co-operative Bank's mortgage deals come with a £250 cashback on all products for existing Co-operative Bank Current Account customers and free valuation and legals on remortgages up to £500,000.
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.
For full details of The Co-operative Bank mortgage range please visit www.co-operativebank.co.uk/mortgages.
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For further information contact The Co-operative Bank Press Office.
About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to around five million retail and SME (Small and Medium Sized Enterprises) customers. The Bank is committed to values and ethics in line with the principles of the co-operative movement.
Notes to editors:
- Rates correct as at 9am on Friday 22nd January 2016.
- Fee-free deals are available up to 90 per cent LTV for house purchases and up to 85 per cent for re-mortgages.
- An up-front and non-refundable administration fee is payable on selected two, three and five year fixed rate deals.