13
Jan
New fixed-rate mortgage product to be launched

A new five-year, fixed-rate mortgage product is to be launched
tomorrow (January 14th) by the Co-operative Bank.
Offered with a loan-to-value of up to 60 per cent, the deal has a
4.49 per cent interest rate and comes with an arrangement fee of
£1,495.
Features of the product include the ability to underpay, overpay or
take payment holidays, enabling customers to act flexibly according
to their financial circumstances.
Head of mortgages at the bank Terry Jordan said that those who took
up the offer would be able to enjoy "peace of mind" over the next
five years.
Lloyds TSB and its subsidiary Cheltenham & Gloucester have also
announced new fixed-rate deals this week.
These include trimming existing rates by 0.2 per cent, in addition
to which a new tracker product will be launched, with interest
rates starting at 3.39 per cent.