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Co-op launches ten-year fixes from 5.29%

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  • 01/07/2011
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Co-op launches ten-year fixes from 5.29%
The Co-operative Bank and Britannia have re-entered the long-term fixed rate mortgage market, with the launch of a ten-year fixed rate range.

The direct-only ten-year fixed rate deals are available up to 75% LTV, at 5.29% with a £999 fee, and 5.69% with no fee.

In addition, the Co-operative Bank has reduced interest rates across its fixed rate range by up to 40 basis points.

It offers a three-year fixed rate at 4.39% with a £999 fee and at 4.89% with no fee, up to 75% LTV.

Up to 85% LTV, the three-year fixed rate deals start at 4.69%, with a £999 fee, and 5.19%, fee free.

The five-year fixed rate range up to 75% LTV has rates of 4.79%, with a £999 fee, and 4.99%, fee free.

Five-year fixes up to 85% LTV have rates of 5.09%, with a £999 fee, and 5.29%, fee free.

James Hillon, head of mortgages at the Co-operative Bank, said: “For those looking for the security and peace of mind offered by a product fixed for a longer term, this provides a welcome boost.

“The reduction in rates across the rest of the fixed rate range also provides good news to borrowers who have the added option of both fee and fee free products to suit their individual needs.”

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