UK Money News
24th June 2008
Co-op unveils new tracker mortgage
Customers of the Co-operative Bank will be able to benefit from a new tracker mortgage deal, it has been announced.
Available to consumers who already hold a current account with the ban, the three-year tracker offers a rate fixed at 0.99 per cent above the key base rate of interest for customers with a loan to value of up to 75 per cent.
Meanwhile, customers taking out deals with an LTV of up to 90 per cent are granted a rate at 1.24 per cent above the Bank of England's base rate.
Both deals waive application, exit and chaps fees and offer the chance to make overpayments and take a mortgage holiday.
John Barker, head of mortgages at lender, said: "In the current economic climate, this new mortgage rewards our current account customers with a market leading rate and the added benefit of no application fees."
The tracker mortgages are available now.
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