Co-operative mortgage fixed until 2014 World Cup

Date:Tuesday 18th May 2010
Author: Max Freedman

A new mortgage has been unveiled by Co-operative Bank intermediary Platform, which offers a fixed-rate until the next World Cup begins in 2014 and has been lauded by a representative from the latter organisation.

Lee Gladwell, business development director at Platform, stated that two-year fixed-rate mortgages seem to be popular, but this four-year deal would avoid the need to remortgage when interest rates are likely to be higher.

"We believe this new four-year product is an excellent choice for intermediaries to recommend to their clients seeking the reassurance that comes from fixed monthly payments," he remarked.

This new deal has a headline interest rate of 3.99 per cent for up to 60 per cent loan-to-value arrangements, rising to 4.99 per cent in increments for up to 80 per cent loan-to-value contracts.

Platform recently launched two new two-year fixed-rate mortgages with a headline interest rate of 3.49 per cent, including free standard legal fees.