Co-op release a cheap 5 year fixed rate mortgage.
The Co-op has launched a new low rate 5 year fixed rate mortgage for 75% loan to value.
At a rate of 3.49% this deal appears on best buy mortgage tables as a highly compeititive offer for just 25% deposit.
In addition to a low rate offer for a medium deposit, its associated fees are reasonable too at just £999.
If you do not have a 25% deposit the Co-op are releasing a 5 year fix at 85% loan to value. The rate available at this smaller deposit level is 4.24%, and fees are £999.
Since cheap funding has been available to UK lenders mortgage rates have significantly fallen.
Lenders 5 year fixed rates were the first be subject to intense competition, and now lenders have turned their attention to shorter term fixed rate pricing.
In addition Co-op are also releasing fee free deals for current account customers. If you hold an account with the lender, which you have been paying your monthly salary into for at least 2 months you may get a better deal.
A £200 cashback incentive is also on offer if you switch to a Co-op current account.
While these 5 year fixed rate mortgage deals may appear attractive, it is recommended that you make an entire mortgage market review through Deal Direct to ensure that you end up with the best possible mortgage for your circumstances.
For advice and a quote call Deal Direct today.
