In 1872 the Co-operative Bank was established. The Co-operative Bank has grown to be one of the biggest financial services corporation in the United Kingdom having over 7 million customers! Its current revenue annually is £3.5 billion.

They follow an right-minded policy that is designed to express the views of their customers as to how they wish their money to be invested or not.

‘Green Mortgages’ – the Co-operative Bank has for sometime now been linked to ‘Climate Care’ and each year donates hundreds of thousands of pounds to Climate Care programs throughout the world. These donations are given in the name of their mortgage customers and work towards making notable lessening of carbon dioxide production, and neutralize customer emissions.

The Co-operative Bank gives free ‘Home Energy Reports’ when giving their ‘Green Mortgage’ lending valuations. This is designed to inform you how energy effective your home is and how you can better its efficiency.

Co-operative Mortgages have various types of mortgages to choose from such as First time buyer 3 year discount; 6 month discounted rate; Tracker Rate, Fixed Rate, Lifetime Tracker (which is designed for their current account customers) and 2 Year Fixed Rate Mortgage.

First time buyer 3-year discount rate mortgage has the starting rate set at a reduced amount off the banks standard variable rate during the first three years of the mortgage, once this period is over then the mortgage will return to the standard variable rate. Should you wish to make an early repayment then there is a charge. It is a very flexible mortgage allowing you to make over or underpayments or even take what is called a ‘repayment holiday’.

Their Tracker Mortgages calculate your repayments abreast of the Bank of England Base rate. This rate changes either up or down and therefore your monthly repayments will be affected accordingly. Presently the Co-operative have two Tracker Mortgages, one that requires a 15% deposit and the other a 25% deposit.

15% Deposit

• This is a Lifetime Tracker designed for Co-operative current account customers – Bank of England Base Rate + 3.19%
• Starting rate is 3.69% variable
• Application fee is £0
• Early repayment fee will apply for the first three years
• There is an exit fee of £140.00

25% Deposit

• This is a Lifetime Tracker designed for Co-operative current account customers – Bank of England Base Rate + 2.69%
• Starting rate is 3.19% variable
• Application fee is £0
• Early repayment fee will apply for the first three years
• There is an exit fee of £140.00

Then there is their Fixed Rate Mortgages. A Fixed Rate Mortgage lets you understand precisely how much your monthly repayments are going to be even if the Bank of England rate rises or falls. The Co-operative has three choices of deposit amounts 10%, 15% and 25%.

If you choose a 10% Deposit on a Fixed Rate Mortgage then there is either a 3-year term or 5-year term to select.

Here is an example of a 3-year Fixed Rate term requiring a 10% deposit and is available only for first-time buyers or home movers and with a minimal household income of £20,000 per annum and a £315,000 maximum loan amount.

• A three year Fixed Rate Mortgage will be fixed until 31/12/2014
• Starting rate is 5.59% which is fixed until the 31/12/2014
• Application fee is £999 and includes a booking fee of £150
• Early repayment fee will apply for the first three years
• There is an exit fee of £140.00

The Co-operative has been around for a very long time and is well respected. If you are thinking of a mortgage then they are well worth taking a look at.