The Co-op’s new two-year discounted tracker rate mortgage gets five stars! - Mortgages - News - Moneyfacts


The Co-op’s new two-year discounted tracker rate mortgage gets five stars!

The Co-op’s new two-year discounted tracker rate mortgage gets five stars!

Category: Mortgages

Updated: 31/10/2008
First Published: 26/10/2007

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Today sees the launch of a new two year discounted tracker rate mortgage from the Co-operative Bank, taking the market by storm and shooting straight into the discounted variable rate mortgage best buys.

With a rate of 5.29% it is 0.34% lower than our existing best buy from Giraffe at 5.63%. A flat fee of £999 and maximum LTV of 95% should appeal to a wide audience. Those borrowing up to 95% loan to value will also appreciate that no higher lending fee is charged.

This is an extremely competitive product. In a time when we are predicting an increase in demand for variable rates, with base rate almost certain to remain on hold or most likely fall in the forthcoming months, we suspect this product will be a popular choice. Offering a very low rate compared with its peers, but still maintaining a reasonable fee, this deal really comes up trumps.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Does your mortgage lender owe you money?

Earlier this week, the financial watchdog revealed that hundreds of thousands of mortgage holders could have been overcharged by their lender. Are you one of the many who could be in line for a windfall?

Do you think your home will rise in value?

There’s been a lot of talk recently about the rate of house price growth slowing, but is it affecting your personal expectations? According to research, it could be, with fewer people now expecting the value of their property to increase.

Confidence among “second steppers” is on the rise

We all know how difficult it can be taking that first step on the ladder, but what about the second step? In many cases, getting onto the next rung can be just as challenging, but happily, confidence among this cohort appears to be on the rise.