The Co-operative Bank cuts fixed rate mortgage range by up to 0.6%

October 13, 2011

Bank cuts fixed rate mortgage range by up to 0.6%THE CO-OPERATIVE BANK CUTS FIXED RATE MORTGAGE RANGE by up to 0.6%

The Co-operative Bank is re-launching its fixed rate mortgage range this Friday (October 14), seeing rates cut by as much as 0.6% (60 basis points).

Details of the new rates are as follows:

Product

New Rate

Fee

LTV

Reduction

2 year fixed rate

3.39%

£999

75%

20 bps

3.99%

£999

85%

20 bps

3.59%

£0

75%

40 bps

4.19%

£0

85%

40 bps

3 year fixed rate

3.79%

£999

75%

40 bps

4.09%

£999

85%

40 bps

5.19%

£999

90%

40 bps

4.09%

£0

75%

40 bps

4.39%

£0

85%

40 bps

5.59%

£0

90%

40 bps

5 year fixed rate

4.19%

£999

75%

60 bps

4.49%

£999

85%

60 bps

5.59%

£999

90%

30 bps

4.49%

£0

75%

50 bps

4.79%

£0

85%

50 bps

5.99%

£0

90%

20 bps

 
 

Your home may be repossessed if you do not keep up repayments on your mortgage.
James Hillon, Head of Mortgages at The Co-operative Bank comments, "In a time of economic uncertainty our fixed rate products are proving popular for customers looking to manage their monthly outgoings. Not only have we cut the rates across our fixed term mortgage range but we've continued to hold our fees at the same price, while many other lenders increase theirs. We're also still offering fee free options to customers and have a range of 90% LTV mortgages to help first time buyers get onto the property ladder."

Anyone looking for more information about the new mortgages can visit any branch of Britannia, call 0800 013 1140 (Britannia) or 0800 0288 288 (The Co-operative Bank) or log on to www.co-operativebank.co.uk/mortgages or www.britannia.co.uk

 

Notes to Editors

For media purposes only

90% Products available to house purchase customers only

Restrictions to 90% lending including;

• Capital & Repayment only
• Maximum loan value £315K
• Minimum Household income £20k

All products revert to the Standard Variable Rate (SVR), currently 4.24% after the initial fixed term.

Your home may be repossessed if you do not keep up repayments on your mortgage.
For further information please contact

Lauren Hoult
The Co-operative Banking Group Press Office
Tel: 0161 903 3822
Email: lauren.hoult@cfs.coop
Twitter: @CoopBankingPR

 

About The Co-operative Banking Group

The Co-operative Banking Group, formerly known as The Co-operative Financial Services, is the banking and insurance arm of The Co-operative Group, which is the world's largest consumer co-operative with around six million members, over £14 billion turnover, and core business interests in financial services, food, travel, pharmacy and funeral care. The Co-operative Group has over 5,000 retail trading outlets.

Following the merger with Britannia on 1 August 2009, the organisation is one of the largest and most highly diversified mutual businesses operating in both retail and corporate banking markets.

As part of The Co-operative Group, the business is characterised by its unique ethical and member reward policies and very high levels of customer advocacy.

The Co-operative Banking Group has £70 billion in assets, 12,000 staff and nine million customers. It has over 300 high street branches, 20 corporate banking centres and major presences in Manchester, Leek , London, Plymouth, Skelmersdale and Stockport.

It is the only mutual organisation that enables its members to earn financial rewards for the products they hold, as well as giving them the opportunity to have a say in how the business is run.