The Co-operative Bank has announced that it will temporarily withdraw selected fixed rate products from its mainstream mortgage range for new business at 5pm tomorrow, Friday 24th October.
The changes affect several residential purchase and remortgage products, with no alterations to professional, buy-to-let, or Help to Buy ranges.
The bank confirmed that all accepted Decisions in Principle (DIPs) for products being withdrawn must be converted to full applications and submitted by the 5pm deadline.
Withdrawn products include 2-year fixed rate residential purchase mortgages at 85% and 90% loan-to-value (LTV) with a £999 fee, and the 90% loan-to-value (LTV) product with no fee.
In addition, 2-year fixed Green EPC A or B purchase products at 85% and 90% LTV with a £999 fee will also be withdrawn.
For remortgage customers, 2-year fixed products at 60%, 70%, 80% and 85% LTV with a £999 fee, and at 60% and 75% LTV with no fee, will be withdrawn.
3-year fixed rate remortgage products at 60% and 70% LTV with a £999 fee are also being removed.
There are no changes to the professional mortgage, buy-to-let or retention ranges. The Welsh Help to Buy scheme has been extended until September 2026.
The bank noted that product codes and end dates remain unchanged for all remaining products and reminded intermediaries that products and rates may be amended or withdrawn at short notice depending on demand.
