Co-op and Britannia launch fixed rates
Share
The Co-operative Bank and Britannia are launching two fixed rate deals with rates starting from 2.95%.
The deals include a two-year fixed rate deal at 2.95% at up to 75% LTV and a five-year fixed rate at 3.99% again up to 75% LTV.
Both products come with a £999 fee and will be available from May 26 through Britannia and the Co-op Bank’s websites and phone lines, or through Britannia’s branches.
The maximum loan size is £1.5m, and remortgage customers also receive a free valuation and conveyancing services.
If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat
Readers' comments (7)
Bobby | 25 May 2010 11:42 am
A 5 year fixed rate much better than a broker can access and only available direct. Shocker !.
Unsuitable or offensive? Report this comment
Anonymous | 25 May 2010 11:45 am
the 5 yr fixed rate is astonishing...I may go for that myself!
Thanks MS
Unsuitable or offensive? Report this comment
Dazed and Confused | 25 May 2010 2:50 pm
Do I hear the sounds of yet another nail going into the brokers coffin?
Unsuitable or offensive? Report this comment
Anonymous | 25 May 2010 3:35 pm
To be fair - Co-op and Britannia have never been in the IFA market so this is nothing new.
Unsuitable or offensive? Report this comment
steve1 | 25 May 2010 3:39 pm
Great news, this will be the start of good 5 yr fix rates which the market needs to offer. Others will follow via All sources.
Unsuitable or offensive? Report this comment
Anonymous | 25 May 2010 3:55 pm
Steve1 is correct. If one lender is offering these rates then it stands to reason others will follow. Not all lenders will offer direct deals only and even if there are dual priced deals around there are plenty of people who would rather use a broker than deal themselves. Look at the positives, there are decent rate mortgages entering the market meaning the remortgage business which has been very subdued will begin to spring back into life.
Unsuitable or offensive? Report this comment
Tim Lynch | 26 May 2010 10:48 am
Well done to Co-op / Brittania even if it is direct only as others should follow, given that a five year swap is now < 2.5%!
Unsuitable or offensive? Report this comment