Britannia and Co-op launch 90% mortgage deals

Britannia and the Co-op have launched a new range of 90 per cent mortgages with interest rates from 5.49 per cent.

The home loans, which are aimed at first-time buyers, include a number of fixed-rate and variable-rate deals.

A two-year-fixed rate deal has an interest rate of 5.49 per cent and a fee of £999, or an interest rate of 5.99 per cent for a fee-free deal.

There is also a five-year fixed deal at 6.09 per cent with a £999 fee or 6.39 per cent fee-free.

The three-year tracker deal stands at 4.49 per cent, with a £999 fee.

Commenting on the deals, This is Money said: "This is further signs that the mortgage market is easing for those with smaller deposits. The pick of the bunch here is the two-year fix at 5.49%, but you will have to pay a hefty fee to secure it."

Earlier this week, HSBC launched a new split loan mortgage which allows people to fix a proportion of their loan and have a tracker rate for the remainder.

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2010-04-30 13:48:17 © Moneyextra.com