The Co-operative Bank launches new tracker mortgage range

The Co-operative Bank is launching a new tracker mortgage range on Friday 30th January. The range will include a three and five year tracker and full details are as follows:

3 Year Tracker Mortgage - Current Account Exclusive

3 year tracker mortgage for current account holders of The Co-operative Bank at 3.99% variable (Bank of England Base Rate +2.49%) for LTV up to 60%
No application fee
Free standard legal and basic valuation fees for remortgages
Early repayment charges apply for the first 3 years
Flexible features including the facility to make overpayments and underpayments and to take payment holidays for home purchases and remortgages
Maximum loan size £500,000
75% LTV version also available

5 Year Tracker Mortgage

5 year tracker mortgage at 3.79% variable (Bank of England Base Rate +2.29%) for LTV up to 60%
£995 application fee
Free standard legal and basic valuation fees for remortgages
Early repayment charges apply for the first 5 years
Flexible features including the facility to make overpayments and underpayments and to take payment holidays for home purchases and remortgages
Maximum loan size £1million
75% LTV version also available

Terry Jordan, Head of Mortgages at The Co-operative Bank, comments: "These new tracker products offer customers the option to take out a competitive tracker mortgage and also take advantage of the flexible features, including overpayments, underpayments and payment holidays that are included as standard with these products".

"These mortgages also form part of our range of green mortgages and as a result customers can benefit from a number of positive environmental features, which include an annual donation to Climate Care to offset around a quarter of an average home's carbon dioxide emissions each year for the lifetime of the mortgage."