Co-operative Bank is to launch a new two-year fixed rate mortgage it was announced today.
The mortgage is suitable for first time buyers, home movers and remortgaging, with remortgagers benefiting from free legal and valuation fees.
The new mortgage is fixed at 5.39% until 28 February 2010 with a £999 arrangement fee. The product can lend up to 95% of a property’s value with no higher lending charge and allows overpayments and underpayments.
The mortgage is also part of Co-operative Bank’s range of green mortgages. The green mortgage scheme means Co-operative Bank will make an annual donation to an environmental charity, Climate Care, for the duration of the mortgage, offsetting around a quarter of the average UK home’s carbon emissions.
The new mortgage will be available from Friday 7 December.
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