Co-operative Bank Mortgage Rates & Fees Comparison
Co-operative Financial Services offers a range of fixed and variable rate mortgages that could be suitable for you.
Since 2018, the lender has only offered new mortgages through its intermediary mortgage brand, Platform.
What types of mortgages can I get with the Co-operative Bank?
- Fixed rate Your interest rate will remained locked for a set amount of time.
- Remortgages You can switch from your existing mortgage provider by applying for one of Platform’s remortgage products.
- Variable rate Your interest rate will shift up and down based on various economic conditions
- Tracker The interest rate will fluctuate in line with the Bank of England base rate.
- Buy to let This mortgage allows you to borrow money to buy an additional property and let it out.
With these mortgages, you’ll have a cash bonus paid into your bank account following the confirmation of your mortgage.
- Shared ownership With a shared ownership mortgage, you can buy a percentage of the property and pay rent on the remainder. You can then apply to buy additional percentages of the property as and when you can afford it.
How to apply
Mortgage through the Co-operative Bank brand are no longer available to new customers as it has become an intermediary-only brand. However, new customers can apply for a mortgage through the Platform brand, which is owned by The Co-operative Bank. Platform offer a wide range of mortgages, including two, three and five year fixed rate mortgages and two year tracker mortgages. If a mortgage from Platform piques your interest, you’ll need to use a mortgage adviser to get one.
What information do I need to provide?
You’ll be asked to provide proof of identity, proof of address, recent bank statements, plus your last three monthly payslips or your last two SA302 forms if self-employed. Proof of deposit may also be required.
You’ll need to be at least 18 years old when applying and no older than 75 when your mortgage term is due to end.
Platform will lend a maximum of 4.85 times your annual income. Applicants with unsatisfied CCJs, major criminal convictions or IVAs within the last six years will be declined.
Compare Co-operative Bank using a mortgage broker
There are huge benefits to choosing to use a mortgage broker to help you get the right deal. They will do all of the hard work and research for you. They are experts in comparing the hundreds of loans and lenders out in the market based on your individual needs and eligibility, so you won’t have to worry about being forced into a deal. Your broker will also negotiate with your chosen lender on your behalf to make sure you are getting the right deal for you.
L&C work with over 80 different mortgage lenders, including the Co-operative Bank, giving you a great opportunity to compare different mortgage deals in the market. To apply for a mortgage through L&C click the link below.
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