Co-operative and Britannia Bank mortgages reduce rates on 90% loans

Date:Wednesday 23rd June 2010
Author: Max Freedman

Consumers who are looking for a mortgage with a high loan-to-value (LTV) could consider the deals from Co-operative and Britannia Bank after their rates were reduced.

For those who are looking to take out a deal with a 90 per cent LTV, there is now a two-year fixed-rate product with a rate of 4.99 per cent on offer from the provider.

Or, for those who are looking for the security of set payments for a longer period of time, there is also a five-year fixed-rate which has a new rate of 5.89 per cent in place.

The fees that are placed on these two products have also been reduced, with the charge now standing at £499 for both.

These new prices could see an increase in the uptake of mortgage products, following on from the report by the Council of Mortgage Lenders that the number of loans granted had increased during May.