Co-operative bank reduces 5-year fixed-rate fees

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Co-operative bank reduces 5-year fixed-rate fees

The Co-operative Banking Group has announced it has reduced its fees on its five-year fixed-rate mortgage offerings.

It has announced its is decreasing rates on its products by up to 90 basis points (0.9 percentage points) and will also be helping customers by removing the £999 arrangement fee on its five-year products.

The provider's five-year fixed rates now range from 3.39 to 5.99 per cent APR, depending upon levels of equity for borrowers.

James Hillon, head of mortgages at The Co-operative Bank, commented: "With rising living costs leaving many families with less cash to spare each month, our five-year fix products offer a great option for those wanting the re-assurance of set monthly repayments."

Mortgage provider Godiva also recently announced the launch of two new products for UK homebuyers - its Flexx BBR Tracker range, which offers rates between 2.75 and 3.75 per cent APR depending upon the level of equity individuals have in their property.

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