Co-operative Bank launches new fixed-rate mortgage

The Co-operative Bank has launched a new fixed-rate 25-year mortgage, it has been announced.

According to the bank, the product is “market leading” as there are minimal application fess and a number of green benefits.

Ethical mortgage customers will be interested to know that the Co-operative Bank will make a donation to Climate Care for every year of the mortgage.

The bank claims Climate Care will be able to offset around a fifth of the average home’s carbon dioxide emissions every year.

Customers are offered a rate of 5.99 per cent over the lifetime of the mortgage, described as “extremely competitive” by head of mortgages John Barker.

He added that consumers can have “peace of mind that the rate will remain fixed at this level”.

Among other features of the mortgage are a £499 application fee and no early repayment charges after the first ten years.

Meanwhile, Bank of England statistics released this week show that gross UK mortgage lending stood at £21.3 billion in July.

© Adfero Ltd

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