The Co-operative Bank has unveiled a new range of mortgages designed to benefit first-time buyers who failed to take advantage of the stamp duty holiday.
A number of fee-free products are being launched to coincide with the end of the break (March 24th) and they come as part of the organisation’s pledge to offer up to £360 million across 2012.
The home loans – which are available to people purchasing their first house with just a ten per cent deposit – will be entering the market on March 23rd.
Included in the collection are both fixed-rate and lifetime tracker deals, while rates begin at 4.59 per cent and there are no arrangement fees in place.
In addition, a free standard valuation – which could save FTBs in the region of £1,249 – is also thrown in for those wishing to take up the deals.
James Hillon, head of mortgages at The Co-operative Bank, part of The Co-operative Group, said: “We’re committed to increasing our lending to first-time buyers this year and are backing up that promise with a new product range.”