The Co-operative Bank

The Co-operative Bank was established in 1872. Today the Co-Operative Bank has more than 7 million customers, and is one of the largest financial services organisations in the UK. Its annual income is£3.5 billion and manages assets of £31 billion worth. The Co-operative Bank has a well-established Ethical Policy, which reached its 10th Anniversary in 2002. The policy reflects customers' views about how their money should and shouldn't be invested.

The Co-operative Bank has the following mortgages:

• First Time Buyer 3 year Discount
• 6 Month Discounted Rate
• Discount Rate
• Fee Free Fixed
• Fixed

First Time Buyer's Flexible 3 year discounted rate: your starting rate is set at a discount off the Bank's standard variable rate for the first 3 years. After the discount interval has concluded your mortgage will revert to the standard variable rate.

• There is an early repayment fee if you make a payment greater than 10% of the original loan or repay the loan in full within in the discount period
• This mortgage is flexible so you can make overpayments, underpayments or take a repayment holiday
• An acceptance fee is payable
• Interest is calculated daily

6 month Discounted Rate: your initial rate is set at a discount off the Bank's standard variable rate for the first 6 months. This rate will depend on the amount you are borrowing compared to the value of the property you are trying to buy. After the discount period is over your mortgage will revert to the standard variable rate.

• An early repayment charge may apply
• This mortgage is flexible so you can make overpayments, underpayments or take a repayment holiday
• There is no acceptance fee
• Interest is calculated daily

Discount Rate: your initial rate is set at a discount off the Bank's standard variable rate for an agreed interval, which can be for 2 and 3 years. After the discount period is over your mortgage will revert to the standard variable rate.

• There is an early repayment fee if you make a payment greater than 10% of the original loan or repay the loan in full within in the discount period
• This mortgage is flexible so you can make overpayments, underpayments
• There is no acceptance fee
• Interest is calculated daily

5 year Fee Free Fixed Rate: your initial rate is fixed for the first 5 years. Co-Operative Bank also offers fixed mortgages for 10 years. After the fixed rate period has finished your mortgage will relapse to the standard variable rate.

• There is an early repayment fee if you make a payment greater than 10% of the original loan or repay the loan in full within in the fixed period
• This mortgage is flexible so you can make overpayments, underpayments
• There is no acceptance fee
• Interest is calculated daily

Fixed Rate: your starting rate is fixed for an agreed period, after which your mortgage will revert to the standard variable rate.

• There is an early repayment fee if you make a payment greater than 10% of the original loan or repay the loan in full within in the fixed period
• This mortgage is flexible so you can make overpayments, underpayments
• There is no acceptance fee
• Interest is calculated daily

The Co-operative Bank also offers a 2 year Variable Tracker Mortgage:

Your starting rate is a variable tracker and is set just above the Bank of England Base Rate for 2 years, after which your mortgage will revert to the Bank's standard variable rate.

• There is an early repayment fee if you make a payment greater than 10% of the original loan or repay the loan in full within in the tracker period
• This mortgage is flexible so you can make overpayments, underpayments
• There is an acceptance fee
• This product is available for re-mortgages too
• Interest is calculated daily

The Co-operative Bank also offers a 5 year Variable Tracker Mortgage:

Your initial rate depends on how much you are borrowing compared to the value of the property you want to buy. Your rate will be set just above the Bank of England Base Rate for 5 years, after which your mortgage will go back to the Bank's standard variable rate.

• An early repayment fee may apply
• This mortgage is flexible so you can make overpayments, underpayments or take a repayment holiday
• An acceptance fee is payable
• Interest is calculated daily

If you are re-mortgaging you will not have to pay valuation or legal fees as long as you use their recommended solicitors.

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