The Co-operative Bank has cut mortgage rates on a range of fixed mortgage deals.

First-time buyers, remortgagers and house purchasers can choose from a range of new two, three and five-year rates including:

• 2 year fixed rate at 1.24%, up to 60% LTV (4.2% APR, revert to rate 4.74%)
• 3 year fixed rate at 1.88%, up to 60% LTV (4.1% APR, revert to rate 4.74%)
• 5 year fixed rate at 2.24%, up to 60% LTV (3.9% APR, revert to rate 4.74%)
• 2 year fixed rate at 2.69%, up to 90% LTV (4.6% APR, revert to rate 4.74%)

The new rates come with a product fee of £1,499 and free standard valuation for both purchases and remortgages. A cashback of £250 is available to existing Co-operative Bank current account customers.

Customers can also choose from a range of Co-operative Bank mortgages that are fee free or have a £999 product fee. All mortgage rates include the option to make overpayments by up to 10% per year of the outstanding balance without incurring any fees.

Stuart Beattie, head of mortgages at The Co-operative Bank, said: “These rates are amongst the lowest we have ever offered so it’s a great time for customers to consider fixing.”