The Co-operative Financial Services boosts mortgage options with “mix and match” proposition

July 30, 2010

The Co-operative Bank and Britannia have enhanced the flexibility of its mortgage range by allowing customers to ‘mix and match’ mortgage (link to: new “your mortgage features” page) deals for only a single application fee.

Borrowers will be able to fix and track different amounts of their home loan with no additional restrictions - meaning they can combine any proportion of the two mortgage products.

All Co-operative Financial Services (CFS) mortgages are available to combine*, although customers must mix and match loans designed for their Loan To Value (LTV).

The move will allow borrowers to keep the flexibility of a tracker, while benefiting from the security of a fixed-rate at no extra cost.

James Hillon, the Function Leader for Mortgages at The Co-operative Financial Services, said: “Many borrowers are unsure whether now is the time to fix their mortgage or if they should take a tracker rate product. The option to take out a split loan with only one application fee gives customers the flexibility to take advantage of the benefits that both products offer at no extra cost.

“We believe customers will find the opportunity to mix and match products increasingly attractive given current uncertainty around the future of interest rates.”

Customers can mix and match products for different periods of time.  For example, a three year tracker product and a five year fixed product could be combined.

The application fee charged on combined mix and match products will be the highest fee of both the chosen loans.
All tracker rates are set in relation to the base rate, so will rise in line with this, while the fixed rate portion will remain at the same level for the mortgage term.
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 or

* Customers cannot mix The Co-operative Bank and Britannia mortgage products.


For further information please contact

Nuala Ryan
The Co-operative Financial Services Press Office
Tel: 0161 903 3808
Email :
Twitter: @CFSpressteam


Notes to editors:

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About The Co-operative Financial Services

The Co-operative Financial Services (CFS) is part of The Co-operative Group, which is the world’s largest consumer co-operative with around five 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 Building Society on 1 August 2009 CFS is one of the largest and well diversified mutual businesses operating in both retail and corporate markets.

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

The combined business has £70 billion in assets, 12,000 staff and nine million customers.  It has over 300 high street branches, 20 corporate banking centres and a major presence in Manchester, London, Leek, Bristol, 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