From Thursday 21st February, the Bank will be removing the £999 fee on this product whilst maintaining its competitive rate of 2.79%.
Whilst borrowing costs have fallen steadily in recent months, the average arrangement fee is now reported to be over £1400. The Co-operative Bank is committed to bucking this trend and is now offering fee free options across all LTVs in its mortgage range, with over two thirds of its rates now available without an arrangement fee.
Commenting on the news, James Hillon, Head of Mortgages for The Co-operative Bank said:
"It's a great time for homeowners to review their finances and one of the best ways to cut back on your monthly outgoings is by finding a cheaper mortgage deal."
Not only have we focused on launching a wide range of competitive fixed rate mortgages in recent months, but we're also offering a wide range of fee free options now including the 5 year fix at 60% LTV. We hope this will make it even easier for new and existing homeowners who are shopping around for a competitive mortgage deal."
