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The Co-operative Bank adds 3.89 per cent mortgage

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  • 05/01/2024
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The Co-operative Bank adds 3.89 per cent mortgage
The Co-operative Bank has reduced rates across its two, three and five-year fixes by as much as 1.07 per cent.

From 9 January, pricing will start from 3.89 per cent for the lender’s five-year fix at 60 per cent loan to value (LTV) with a £999 fee and £250 cashback from the Co-operative Bank. 

There is also a corresponding two-year fix at 80 per cent LTV priced at 4.34 per cent, as well as an equivalent three-year fix at the same tier with a 4.33 per cent rate. 

At higher LTVs, the Co-operative Bank will offer a fee-free two-year fix at 95 per cent LTV with a rate of 5.18 per cent. This offers £250 cashback. There is also a fee-free five-year fix at 90 per cent LTV priced at 4.28 per cent with £500 cashback. 

 

The Co-operative Bank: ‘Pleased to launch competitive rates’

John Ward, director of product at The Co-operative Bank, said: “We’re pleased to be able to launch these competitive rates to support homeowners to get the best possible deal on their mortgage.  

“We’re continuing to keep our range under review in order to offer good value deals to support our customers via our broker partners.” 

The lender joins a number of providers that have reduced rates in the new year, such as HSBC which came out with a 3.94 per cent product earlier this week. 

In late December, Mortgage Solutions reported that Coventry Building Society and the Co-operative Bank had entered discussions over a possible merger deal.

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