Lenders launch new mortgage deals

The Co-operative Bank and Britannia have jointly announced plans to launch two new mortgage products.

From today May 26th, the banks are offering a two-year fixed-rate mortgage at 2.95 per cent and a five-year fixed-rate deal at 3.99 per cent.

John Hughes, business leader retail products for the Co-operative Financial Services, said the lenders currently offer some of the cheapest mortgage rates in the market.

"However, not only do these mortgages offer extremely attractive rates, they also provide customers with the added benefits of our consistently high levels of customer service, as well as our status as a responsible and trusted mortgage provider," he said.

Mr Hughes said the products form part of the banks' wider mortgage range, which includes both fixed and variable products.

Last week, the Council of Mortgage Lenders reported that the number of home loans taken out increased for the ninth consecutive month during March.

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2010-05-26 13:37:44 © Moneyextra.com