Provider reduces mortgage rates across range


The Co-operative Bank has announced a raft of rates reductions across its mortgage range.
It was revealed levels have been cut by up to 90 basis points on more than 20 products offered by the group.
The changes are being introduced to offer first-time buyers and existing homeowners more support as they look to sign up to a deal most suited to their individual needs.
Included in the update is a best buy three-year fixed-rate home loan at 3.89 per cent for 75 per cent loan-to-value (LTV), in addition to a five-year fixed mortgage at 4.79 per cent for 85 per cent LTV or less.
James Hillon, head of mortgages at the Co-Operative Bank, noted: “From re-mortgage customers through to first-time buyers, we’re committed to supporting borrowers by offering a wide range of competitive mortgage rates.”
Mr Hillon said the provider delivered more than £1 billion of lending across the first six months of 2012 and is prepared to hand out a total of £360 million before the end of the year to those looking to get their foot on the first rung of the property ladder.

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