Co-op launches 5-year fix

The Co-operative Bank has launched a five-year fixed mortgage available only to its current account holders.

The product has a rate of 3.39% for 75% loan-to-value (LTV) or 4.24% for 85% LTV. 
The product is open to new and existing current account customers and has an application fee of £999.

James Hillon, head of mortgages at The Co-operative Bank, said: “At a time when living costs are rising, many homeowners are looking for the extra security offered by a fixed rate deal. Our new five-year fix rewards customers who are looking for that extra security, without the need for them to miss out on market leading rates.”