Co-op Bank’s new fixed-rate mortgages

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The Co-operative Bank has re-launched its fixed rate mortgage range, seeing rates cut by up to 0.6 per cent.

The range also includes various options for those buying a home for the first time or looking to re-mortgage.

Fixed rate products range from 75 per cent to 90 per cent LTV (loan-to-value ratio) and there are also fee free options available to customers.

Its five-year fix at 90 per cent LTV has fallen by 0.6 per cent (60 basis points) to 5.39 per cent with no arrangement fee. The same product is also available at a rate of 5.09 per cent with an arrangement fee of £999, this has fallen by 0.5 per cent (50 basis points).

James Hillon, head of mortgages at The Co-operative Bank, said: “With inflation still continuing to significantly impact consumers we want to help homebuyers by giving them greater choice in the mortgage market and encourage movement wherever possible. Developments in the eurozone may have resulted in a wave of lenders pushing up mortgage rates in recent weeks but we’re taking action to buck this trend.”

He added: “In addition to lowering our rates again, we’re also supporting both new and existing homeowners through the varied LTV and fee free options across our product range.”

The Co-operative Bank’s products also include its five-year fix at 75 per cent LTV at 3.39 per cent with a £999 arrangement fee (existing current account customers get this rate with no arrangement fee), and its five-year fix at 75 per cent LTV at 3.59 per cent with no arrangement fee.