The Co-operative Bank to cut mortgage rates by 0.25%

Following yesterday’s changes to the Bank of England Base Rate, The Co-operative Bank will be passing on the full benefit of the base rate reduction to its mortgage customers, by cutting its standard variable rate (SVR) by 0.25% to 7.24%, with effect from 1 March 2008.

The Co-operative Bank offers a wide range of mortgages at competitive rates, offering borrowers the ability to make considerable savings over the lifetime of their mortgage. The Co-operative Bank also calculates interest on a daily basis, and, unlike some other lenders, does not impose Higher Lending Charges (HLCs) on any products.

For more information about The Co-operative Bank’s mortgage range please visit co-operativebank.co.uk/mortgages