The Co-op offers long term fixed rate mortgages

The Co-operative Bank and Britannia will re-enter the long term fixed rate mortgage market this week, with the introduction of a new 10 year fixed rate range.

The new products are available to customers looking to borrow up to 75% loan to value (LTV) and are available with both fee and fee free options.

At the same time, there has also been a reduction in rates across a number of other products in the fixed rate mortgage range, by up to 40 basis points (bps).

The Co-operative Financial Services has already been recognised as the best long term fixed rate mortgage provider in the 2011 Moneyfacts awards.

James Hillon, Head of Mortgages at The Co-operative Bank, said: "We've already been recognised as the best provider of longer term fixed rate mortgages so the introduction of a new 10 year fixed rate range is the next step in giving borrowers even more choice. For those looking for the security and peace of mind offered by a product fixed for a longer term, this provides a welcome boost."

"The reduction in rates across the rest of the fixed rate range also provides good news to borrowers who have the added option of both fee and fee free products to suit their individual needs."