The Co-operative Bank has announced the launch of a raft of new best buy mortgage rates .
These products have been designed to offer assistance to first-time buyers (FTBs) and existing homeowners and will see the introduction of 17 market-leading home loan rates, including products offering both high and low loan-to-value ratios.
Rates across the two-year and five-year fixed mortgages are to be cut by up to 40 basis points from tomorrow (October 5th), with customers using a 15 per cent deposit being able to take advantage of a fee-free two-year fixed-rate deal at 3.99 per cent.
Those already with a Co-operative current account, however, can benefit from a rate of just 3.59 per cent.
James Hillon, head of mortgages at the provider – which is part of the Co-operative Group – stated: “We’re committed to offering customers a trusted alternative for high street banking at all stages of their lives.”
Mr Hillon explained the new mortgage rates have been introduced with numerous types of homeowner in mind, including FTBs with small deposits and existing homeowners with sizeable equity in their house.