The Co-operative Bank and Britannia will launch a 10-year fixed rate mortgage rate range tomorrow, signalling their re-entry into the long-term fixed rate mortgage market.
The new deals are available up to 75% loan to value (LTV) and come in both fee and fee free options.
The free-free deal is priced at 5.69% while, for a fee of £999, the rate is 5.29%.
Rates across a number of other products in the fixed rate mortgage range have been cut by up to 40 basis points.
James Hillon, head of mortgages at the Co-operative Bank, said: “We’ve already been recognised as the best provider of longer term fixed rate mortgages so the introduction of a new 10 year fixed rate range is the next step in giving borrowers even more choice. For those looking for the security and peace of mind offered by a product fixed for a longer term