The Co-operative Bank is launching a new range of mortgage rates over the next few days.
On 5 October 5 the bank is reducing rates across its two-year and five-year fixed mortgages by up to 40 bps.
At 85% LTV there is a fee free two-year fixed rate mortgage at 3.99%, with existing current account customers benefiting from a rate of 3.59%.
The Co-op Bank is also offering a five-year fixed mortgage at 3.99% for borrowing at 85% LTV.
| Product | Rate | Fee | LTV | Reduction | Available from |
| 2 year fixed rate | 3.59% | £999 | 85% | 20 bps | 05/10/2012 |
| 3.29% | £0 | 60% | n/a | ||
| 3.49% | £0 | 75% | 30 bps | ||
| 3.99% | £0 | 85% | 30 bps | ||
| 2 year fixed rate exclusive** | 2.99% | £0 | 75% | 30 bps | |
| 3.59% | £0 | 85% | 20 bps | ||
| 5 year fixed rate | 3.49% | £999 | 75% | 20 bps | |
| 3.99% | £999 | 85% | 40 bps | ||
| 4.39% | £0 | 85% | 40 bps | ||
| 5 year fixed rate exclusive** | 3.49% | £0 | 75% | 20 bps | |
| 3.99% | £0 | 85% | 40 bps |
Meanwhile, on 10 October mortgages will be reduced by up to 30 bps across the bank’s exclusive three-year fixed mortgages and exclusive lifetime tracker products.
It will also be introducing a three-year fixed rate mortgage at 4.59% for borrowing at 90% LTV.
| Product | Rate | Fee | LTV | Reduction | Available from |
| 3 year fixed rate | 3.79% | £999 | 85% | 20 bps | 10/10/2012 |
| 4.59% | £999 | 90% | 20 bps | ||
| 4.39% | £0 | 85% | 20 bps | ||
| Lifetime tracker exclusive** | 2.89% | £0 | 60% | 20 bps | |
| 3.49% | £0 | 75% | 20 bps | ||
| 3.89% | £0 | 85% | 30 bps |
“We’re committed to offering customers a trusted alternative for high street banking at all stages of their lives and our new mortgage rates have been launched with a wide range of homeowners in mind,” said James Hillon, head of mortgages at The Co-operative Bank.
“Whether they are existing homeowners with lots of equity in their home or a first-time buyer with just a small deposit, customers at all stages of their lives will now have the opportunity to access our best-buy mortgage rates.”