The Co-operative Bank has launched a new range of fixed rate mortgages, reducing rates across its two, three and five year deals by up to 0.20 percentage points.

The new deals start from 2.14% for 90% LTV, with a £1,499 fee fixed for two years.

The three year fixed rate is 2.89% and five year fixed rate at 3.24%, both with 90% LTV and a £1,499 fee.

In addition, all of the two, three and five year fee-free deals, ideal for those looking to re-mortgage, have reduced by 0.20 percentage points. The two year fixed rate mortgages start from 2.14% for 60% LTV, three year fixed rates from 2.64% for 60% LTV and five year fixed rates start from 2.79% for 60% LTV.

Stuart Beattie, head of mortgages at The Co-operative Bank, said: “We are delighted to be starting the year by introducing a market-leading, accessible range of fixed rate mortgages.

“The high loan-to-value deals are ideally suited for first time buyers and by reducing rates on a range of two, three and five year fixed rate mortgages, with a variety of LTVs, means we maintain our commitment to offer competitively priced products to customers at all stages of the home buying process.”

The full range of two, three and five year fixed rate mortgages are also available with a £999 fee, starting from two year fixed at 1.49% with 60% LTV up to 2.34% with 90% LTV, three year fixed from 1.94% with 60% LTV up to 3.04% with 90% LTV, and five year fixed from 2.34% with 60% LTV up to 3.34% for 90% LTV.

The Co-operative Bank’s mortgage deals come with a £250 cashback on all products for existing Co-operative Bank Current Account customers and free valuation and legals on remortgages up to £500,000.

At the end of the fixed rate period all products revert to the Bank’s Standard Variable Rate (SVR), which is currently 4.74%.