Co-op Bank sees rise in mortgage applications

The Co-operative Bank and Britannia have seen a 31 per cent rise in like-for-like mortgage applications over the first half of 2010.

Data from the bank highlights that there has also been a 13 per cent rise in the number of people who are looking to take advantage of lower mortgage rates and remortgage their property.

Neville Richardson, chief executive of the Co-operative Financial Services, commented: "Our significant rise in mortgage applications has largely occurred over the past couple of months and in part reflects the range of best-buy mortgage applications we've been able to maintain over the period."

He added that the bank's responsible approach to lending coupled with its strong financial position have attracted a growing number of customers over the course of the credit crisis.

Last month, the Co-op launched a new mix and match mortgage which allows customers to fix parts of their outstanding balance at a predetermined rate and track the base rate with the remainder.

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2010-08-09 08:26:10 © Moneyextra.com