In addition, it will offer the same deal at 4.24% up to 85 % LTV.

The five-year fix is open to new and existing current account customers and has an application fee of £999.

James Hillon, head of mortgages at The Co-operative Bank, said: “At a time when living costs are rising, many homeowners are looking for the extra security offered by a fixed rate deal.

“Our new five-year fix rewards customers who are looking for that extra security, without the need for them to miss out on market leading rates.”