Co-op launches mortgage for home buying first time buyers

29-Mar-2007

The Co-operative Bank has announced the launch of a new mortgage specifically aimed at first time home buyers.

Offering a one per cent cashback to enable first time home buyers to cover - at least in part - any costs such as stamp duty or legal fees, the mortgage is available with an interest rate of 6.29 per cent over a period of five years.

To find out more about this mortgage and other mortgages for first time buyers, click here.

"As house prices have continued to rise it is important that the lifeblood of the market - first time buyers - are given extra help to gain that all important first footing on the ladder," said John Barker, head of mortgages at Co-operative Bank.

The mortgage also offers a free basic valuation and there is no requirement to provide a deposit.

The Co-operative Bank offers a range of financial products and services, including credit cards and home insurance.

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