The Co-operative Bank to cut mortgage rates by 0.50 per cent

Following last week'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 0.50 per cent to 6.49 per cent, with effect from 1 November 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