The Co-op and Britannia reduce mortgage rates

The Co-operative Bank and Britannia have launched a new two year fixed rate product and reduced rates on a number of  other products in their mortgage range.

James Hillon, Head of Mortgages at The Co-operative Bank, said: "We recognise the challenges homebuyers are facing at the moment and we are delighted to be able to offer these reductions in rates which, alongside the introduction of the new 2 year fixed rate mortgage, will hopefully provide a welcome boost for first time buyers and homeowners.

"As these rates are aligned across Britannia and The Co-operative Bank it also means that borrowers have even more access to our market-leading rates which are available in more than 300 branches, online and on the telephone."

Rates have been cut by up to 40bps across The Co-operative Bank and Britannia's three and five year fixed rate deals, with customers also benefiting from an extension in the fixed end dates of the products.

For more information, visit co-operativebank.co.uk/mortgages or britannia.co.uk.