Co-op reduce rates on 90% LTV mortgages

Jessica Nangle

September 1, 2017

The Co-operative Bank is reducing select mortgage interest rates available on a number of products.

First-time buyers can access all 90% LTV mortgages across a range of fixed terms being reduced by 0.25%.

The highlights of the mortgages currently available from the Co-operative Bank are:

Reactions to the interest rate rise
  • 1.79% interest rate for a 2-year fixed rate mortgage at 90% LTV with a £1,499 product fee;
  • 2.14% interest rate for a 3-year fixed rate mortgage at 90% LTV with a £1,499 product fee;
  • 2.49% interest rate for a 5-year fixed rate mortgage at 90% LTV with a £1,499 product fee.

The fee saver fixed rate range also offer lower rates:

  • 2.29% interest rate for a 2-year fixed rate mortgage at 90% LTV with a £0 product fee;
  • 2.49% interest rate for a 3-year fixed rate mortgage at 90% LTV with a £0 product fee;
  • 2.79% interest rate for a 5-year fixed rate mortgage at 90% LTV with a £0 product fee.

Paul Norcott, head of mortgages and insurance at The Co-operative Bank, said: “We know that buying a home for the first time is a big financial commitment and we are reducing our 90 per cent LTV mortgage rates to support those looking to take their first step onto the property ladder.

“Our partnership with youth homelessness charity Centrepoint means we’re also helping to put a roof over the head of a young person in crisis.”

The bank is donating £25 to Centrepoint for every new customer mortgage completed in their aim to tackle homelessness in the UK.

 

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