Co-operative mortgages 'give customers a choice'
www.moneynews.co.uk > Mortgages > Co-operative mortgages 'give customers a choice'
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Money News |
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Co-operative mortgages 'give customers a choice'
Mon 3rd Mar 2008
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John Barker, head of mortgages at Co-operative Financial Services, said the decision will allow more flexibility for homebuyers.
He explained that it is difficult to anticipate changes to interest rates over the next two years, so "customers will obviously have to make decisions based on their personal circumstances and their own attitude to risk and need for payment security".
Both tracker two-year fixed rate mortgages offered by Co-operative currently have a rate of 5.24 per cent for the first two years.
The mortgages also carry a £999 application fee and do not have a higher lending charge. There is a maximum loan-to-value rate of 90 per cent.
In February, Co-operative Financial Services announced that it was cutting mortgage rates by 0.25 per cent.
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Related News : Cooperative |
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