Co-op 3 year tracker mortgage in demand

Published: 18 June 2009 By MoneyhighStreet Staff Leave a Comment

The Co-op Bank recently launched a 3 year tracker mortgage which is proving to be high in demand as Co-op sees a 75% uplift in mortgage business.

Co-op tracker mortgageThe 3 year tracker has a rate of 2.39% for the first 3 years, until end of September 2012.

With a 75% LTV, this puts the tracker below some of the other mainstream mortgage lenders.

Head of mortgages at the Co-op, Terry Jordan, commented ‘We have really seen a surge in demand for our new tracker which offers a more generous LTV than most of our competitors’ lowest priced products, at up to 75% LTV.’

Co-op promotes the fact that their mortgages are green mortgages, donating annualy to Climate Care to offset around 25% of an average home’s carbon dioxide emissions each for the full term of the mortgage.

The 3 year tracker mortgage has a £995 application and a maximum £1m loan size.

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