The Co-operative Bank is launching a new range of fee-free products. It is timed with the stamp duty holiday for first time buyers which comes to an end on 24 March.
As part of the bank’s commitment to lend up to £360 million to first time buyers in 2012, the new products are available from March 23 exclusively to those buying their first home with just a 10% deposit.
The product range includes both fixed rate and lifetime tracker options with rates starting at 4.59%. The mortgages also have no arrangement fees and include a free standard valuation, which the Cop-op claims saves first time buyers £1,249.
James Hillon, head of mortgages at The Co-operative Bank, said: “We’re committed to increasing our lending to first time buyers this year and are backing up that promise with a new product range to help those who may have just missed out on the stamp duty holiday.