Co-op launches lowest ever 2-year fix

The bank’s 3-year fix has also been slashed to 2.44%, while its 5-year fix stands at 2.94% also to 60% LTV with a £999 fee.

The Co-op also reduced its 90% LTV range, with 2-year rates standing at 3.79%, 3-year at 4.09% and 5-year at 4.49%, all with no arrangement fee.

Stuart Beattie, head of mortgages at The Co-operative Bank, said: “Understandably, fixed rate mortgages have been the most popular choice for our customers this year and with the launch of our lowest ever 2-year fix, it’s a great time for those borrowers who are still looking for security against potential future rate increases.

“These reductions to our mortgage fixed rates ensure we continue to give our customers what they want - a great range of competitive products to suit their needs and circumstances - to accompany our continued commitment to offering great service.”

Co-operative Bank current account customers qualify for a £250 cashback on both remortgages and purchases, while free legals and valuations are included as a standard on remortgages.