The new deal is fixed at 1.09% until 30/06/17 for mortgages up to 60% LTV.
It is available to new and existing borrowers and comes with an arrangement fee of £1,499.
The Co-operative Bank has also launched its lowest ever 90% fixed rate mortgage deal – fixed at 2.64% until to 30/06/17 - along with a 3 year fixed rate at 1.89% for loans up to 60% LTV. These deals also come with a £1,499 arrangement fee and are available to new and existing borrowers.
Stuart Beattie, Head of Mortgages at The Co-operative Bank, said:
“With rates at record lows, it's a great time for customers to consider taking out a fixed rate product. We are delighted to offer the UK’s lowest ever 2 year fixed rate mortgage, which is ideal for borrowers with larger deposits. It complements our existing range of mortgage deals, designed to suit the needs of different borrowers.”
Charlotte Nelson, Moneyfacts, added:
“At 1.09%, this two-year fixed rate mortgage is the lowest ever on Moneyfacts.co.uk’s records. With rates hitting all-time lows, there is no better time for borrowers to fix their mortgage and secure low monthly payments for a significant period of time.”
