Co-op bank introduces changes to mortgage range

Date:Monday 27th April 2009
Author: Max Freedman

The Co-operative Bank has made alterations to its mortgage range, it has been revealed.

Among the new products being offered by the bank from today (April 27th) is a three-year fixed-rate mortgage available to first-time buyers.

The home loan has no application fee and will be charged at five per cent.

It is available for loan-to-values of up to 85 per cent and includes a free basic property valuation.

Terry Jordan, head of mortgages at the Co-operative Bank, said: "We recognise that in the current economic climate many people are struggling and we remain fully committed to providing affordable mortgages."

He added that the new products offer a "wide range" of customers the opportunity to get a mortgage that suits their particular financial situations and lifestyles.

Earlier this month, Britannia announced that it had reduced the rates it charges on its two and three-year fixed-rate mortgages by up to 60 basis points.