Co-operative updates 3-year mortgage deals

| April 28, 2009 | 0 Comments
Co-operative updates 3-year mortgage deals

The Co-operative Bank yesterday announced updates to two of its mortgage products.

Interest charged on Co-operative’s 3 Year Discount Mortgage was reduced to 3.24%, whilst the bank’s 3 Year Fixed Rate Guarantor Mortgage was reissued at a rate of 5.99%.

The Discount mortgage has a maximum loan-to-value (LTV) of 75%, and a £995 application fee. Legal and valuation costs are included.

The fixed-rate Guarantor mortgage has a maximum LTV of 85%, a £0 application fee, and includes a free valuation.

In addition, both mortgages include an annual donation to Climate Care that offsets around a quarter of the average home’s carbon emissions.

Terry Jordan, Co-operative Bank’s head of mortgages, said: “We remain fully committed to providing affordable mortgages.

“These new mortgages offer a wide range of customers the chance to get a mortgage that suits their lifestyle and financial situation.”

In related news, Co-operative revealed that its ‘responsible approach to lending’ meant that it only had to make eight repossessions during 2008.

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