Co-operative Bank tracker rate mortgage launched

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Co-operative Bank tracker rate mortgage launched

A new tracker rate mortgage product has been launched by the Co-operative Bank.

The product will track the Bank of England's base rate minus 0.61 per cent for two years and has a £999 application fee.

Other features include free legal and valuation fees for remortgages and no charge for higher lending.

"This new mortgage offers a very competitive rate, and customers can also be safe in the knowledge that their rate will remain under the Base Rate for the initial period of the loan," said John Barker, head of mortgages at Co-operative Financial Services.

The bank is also offering a range of environmental features, including a free home energy report with their property evaluation.

Yesterday, the Co-operative Bank has pledged its support to Living Space 21 - a new initiative aimed at constructing greener, more affordable homes for first-time buyers.

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