The Co-operative Bank has launched a new range of mortgages, including low rate two year and five year fixed deals with 90% LTVs.

The two year fixed rate mortgage of 2.24% with only 10% deposit is available with a £1,499 fee and the five year fixed rate mortgage of 3.34%, also with a 10% deposit, is available with a £1,499 fee.

Other changes include a 0.45 percentage point rate reduction to the two year fixed rate mortgage at 90% LTV, with the new rate of this fee-free deal at 2.99%.

In addition, a new three year fixed rate deal for those looking to re-mortgage is available at a rate of 1.79% for 60% LTV, with a £1,499 fee.

In total, rates have been reduced across the range with more than 80 mortgage options for both new and existing borrowers with rates being reduced by between 0.05 and 0.45 percentage points.

Stuart Beattie, head of mortgages at The Co-operative Bank, said: “We our continually re-evaluating our mortgage products to ensure that we’re offering competitive rates to those looking to take a mortgage for the first time, moving home, or Remortgage.

“The new rates on our two year and five year fixed rate mortgages at 90% LTV, proves our commitment to helping those looking to get their first foot on the property ladder with competitively priced products offering fee and fee-free options.

“We are also offering a range of competitive rates for customers wishing to move or remortgage.”