Co-operative Bank announces changes to mortgage rates

Following the recent changes to the Bank of England Base Rate; The Co-operative Bank will increase its standard variable rate (SVR) to 7.24% with effect from 1 February 2007.

Despite the increase, the Co-operative Bank’s mortgages continue to be competitive within the marketplace whilst also providing a wide range of benefits, offering borrowers the ability to make considerable savings over the lifetime of their mortgage. The Co-operative Bank calculates interest on a daily basis, and, unlike some other lenders, does not impose Higher Lending Charges (HLCs) on any products.