Co-operative 3.99% mortgage blows away competition

| May 26, 2010 | 0 Comments
Co-operative 3.99% mortgage blows away competition

The Co-operative Bank and Britannia today launched a new five-year mortgage at a fixed-rate of 3.99%.

The mortgage is available to homeowners with a deposit of at least 25%.

Borrowers taking out the mortgage are required to pay a £999 fee.

The two providers, which merged last year, also announced a two-year fixed rate mortgage at 2.95%, also requiring a 25% deposit and with a £999 fee.

John Hughes, Co-operative spokesperson, said: “Not only do these mortgages offer extremely attractive rates, they also provide customers with the added benefits of our consistently high levels of customer service.”

David Hollingworth of London & Country said the new products from the Co-operative have “blown the competition away”.

He added: “It would seem that others would have to come back and rethink their pricing to compete.”

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