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Co-op Bank lowers fixed rate mortgages

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
23/02/2015

The Co-operative Bank has cut the rate on a number of its fixed rate mortgage products.

The lender said it hoped the price cuts would encourage more customers to remortgage to products in its range.

Co-op Bank said these were among the cheapest rates it had ever offered.

The new two-, three- and five-year products are available to first-time buyers, remortgagors and house purchase customers.

Products include:

Two-year fixed rate at 1.24%, up to 60% loan-to-value
Three-year fixed rate at 1.88%, up to 60% loan-to-value
Five-year fixed rate at 2.24%, up to 60% loan-to-value
Two-year fixed rate at 2.69%, up to 90% loan-to-value

All four products come with a product fee of £1,499 and free standard valuations for purchase and remortgage customers. Each mortgage reverts to a rate of 4.74% at the end of the fixed period.

Stuart Beattie, head of mortgages at Co-operative Bank, said: “These rates are amongst the lowest we have ever offered so it’s a great time for customers to consider fixing.”


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