The new rates include a best buy 3 year fixed rate mortgage at 3.89% for 75% LTV. In addition, the Bank is now offering a highly competitive 5 year fixed mortgage available at 4.79% for borrowing at 85% LTV or less. Both options have no arrangement fee.
The Co-operative Bank welcomes the launch of the Government's Funding for Lending scheme and is supporting homeowners and consumers looking to get onto the property ladder by reducing rates on over 20 further products including first-time buyer mortgages for those looking to borrow at 90% LTV.
James Hillon, Head of Mortgages at The Co-operative Bank said:
"From re-mortgage customers through to first-time buyers, we're committed to supporting borrowers by offering a wide range of competitive mortgage rates We've already delivered over £1bn worth of lending in the first half of this year and are committed to lending £360m to first time buyers alone before the end of 2012. Whether customers are looking to buy their first home or to find a better deal than their existing mortgage we believe that these rates coupled with our trusted high levels of customer service offer a genuine alternative for borrowers."
