New 3 year tracker mortgage from The Co-operative Bank

The Co-operative Bank (LON:CPBB) is launching a new market leading 3 year tracker mortgage at a rate of 2.39%. The new mortgage available from Wednesday 27th May and offers a more generous LTV than most competitors' lowest prices products at up to 75%.

Full details are as follows:

3 Year Tracker

3 year tracker mortgage at 2.39% (Bank of England base rate + 1.89%) for LTV up to 75%
£995 application fee
Free standard legal and basic valuation fees for remortgages
Flexible features including the facility to make overpayments and underpayments and to take payment holidays for home purchases and remortgages (T&C apply)
Green features include an annual donation to Climate Care to help tackle global warming
3% early repayment charge applies for initial tracker period

Terry Jordan, Head of Mortgages at The Co-operative Bank, comments: "Despite the latest data from the CML, which shows a decline in mortgage lending we are very much open for business. We remain fully committed to providing a full range of products and mortgages and with base interest rates at a historic low, this new mortgage now offers customers the best tracker rate in the market".

The Co-operative Bank has also lowered the rate in its 3 year fixed rate mortgage by 0.2% to 4.89%, this mortgage also has no application fee.

"All of The Co-operative Bank mortgages 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".

For more information, visit co-operativebank.co.uk