Britannia and The Co-operative Bank launch best buy mortgage

Following the recent launch of the market-leading two year fixed rate range, Britannia and The Co-operative Bank are again launching new best buy mortgages this week (19 March), with the arrival of a new market-leading 3-year tracker and an innovative 5-year capped rate mortgage.

Available from Friday 19 March, the new range offers best-buy rates for customers of both Britannia and The Co-operative Bank.

The highlights of the new variable range include a market-leading rate three-year tracker with a rate of 2.49% and an arrangement fee of £999.

However, for customers looking for a variable rate but also protection against potential future rate rises, there is also a new five-year capped-rate mortgage available at up to 85% LTV - the only five-year product of its kind on the market.

John Hughes, Business Leader for Retail Products comments: "These competitively priced variable rate mortgages offer customers an opportunity to take advantage of the current low interest rate environment and follow on from the recent launch of our best buy fixed rate products.

"The five-year capped product is innovative in the current mortgage market, offering customers the best of both worlds - a low current rate and also the reassurance that their payments won't go above a certain rate for the next five years.

"Our new mortgage range now has a variety of competitively priced products to suit differing customer needs, backed by a high levels of customer service, and accessibility to the range through more than 300 branches, online and on the telephone."