The Co-operative Bank Reduces Mortgage Rate

THE CO-OPERATIVE BANK REDUCES MORTGAGE RATE Following the Bank of England's decision to reduce its base rate, The Co- operative Bank today (25 July, 2003) announced that it was reducing its standard variable mortgage rate by 0.15 per cent. The new Standard Variable Rate will be just 4.84 per cent with effect from Friday 1 August 2003 for new and existing borrowers. For borrowers with the Bank's six-month Discount Standard Variable Rate mortgage where the loan is less than 75 per cent of the property value, the discounted rate is just 3.44 per cent. This maintains the Bank's presence as one of the most competitive mortgage providers in the marketplace. Ends For further information contact: 25 July 2003 Paul Lawler Co-operative Financial Services Press Office Tel: 0161 829 5091 Fax: 0161 839 4220 e-mail : paul.lawler@co-operativebank.co.uk ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/07/25/20030725BIT00260/wkr0001.doc http://www.waymaker.net/bitonline/2003/07/25/20030725BIT00260/wkr0002.pdf