You are here: Home - News -

Co-op seizes opportunity to relaunch after 10-year gap

  • 01/10/2000
  • 0
The Co-operative Bank has confirmed that it is to re-enter the mortgage market next month following ...

The Co-operative Bank has confirmed that it is to re-enter the mortgage market next month following a 10-year absence.

David Smith, spokesman for the Co-op, said: “We pulled out of the market because we decided that the money coming in could be better used elsewhere.

“Now, however, we have a total of around 2.6 million customers who are all getting their mortgages from somewhere, so we decided the time was right to return to mortgage lending.”

The Co-op is hoping for the same success with mortgages that it has achieved with Smile, its internet-only bank that has attracted over 200,000 customers since its launch last October. However, there are no plans to make the mortgage products available through Smile until sometime next year.

The re-launch of mortgage services will be initially targeted at existing customers but will be open to everyone. The bank is also considering targeting intermediaries for business next year. The new products accompanying the launch will be ‘green’ mortgages, in keeping with the Co-op’s traditional ethical policies, and each new mortgage will include an energy survey with advice on how to conserve energy in the home.


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
IFA confidence boosted as 60% report steady increase in mortgage business

By Rachel Williams Research commissioned on behalf of the ZIFA Mortgage Network has confirmed that I...