Nov 8 2019

Getting Started with your Mortgage, Co-op Bank, getting a mortgage.

#Getting #a #mortgage


Your mortgage

See our mortgages and find out how much you could borrow.

What you could borrow

Use our quick calculator to find out what we may be able to lend you.

What it’ll cost each month

Find out what you could be paying each month with one of our mortgages.

First time buyers

Find out how much you may be able to borrow and use our guides to help you take your first step on the property ladder.

Moving home

Finding a mortgage should be simple – even if finding the right property might not be.


If your mortgage is with another lender and you’re considering a better deal, take a look at our range of mortgages to see if we could save you money.

Moving home

Buying a new home? See what rates we could offer you.

Getting a better deal

See your options for getting a better rate, and saving money.

Borrow more

Do you need to borrow extra money? Here’s what you’ll need to do.

Get a mortgage that makes a difference

For every new customer mortgage completed, we give ВЈ25 to Centrepoint – a youth homelessness charity, and our charity partner. Learn more about the work we do with Centrepoint.

Read more about the terms of the donation

New mortgage customer applications received during the 12 month period commencing 2nd May 2017 will be eligible for the donation, on completion of the mortgage. New mortgages taken out by existing mortgage customers or transactions relating to their existing mortgage (e.g. a product switch, further advance, porting of an existing mortgage or change of borrower) are not eligible for the Centrepoint charity donation at this time. The ВЈ25 will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.

The £25 donation will be made for each new-to-Bank mortgage sold through direct and intermediary channels i.e. it applies to the Bank’s Britannia and Platform branded mortgages. Britannia and Platform are trading names of The Co-operative Bank p.l.c. The Bank reserves the right to change or withdraw the donation arrangement at any time.

Centrepoint is a registered charity in England and Wales, No. 292411

Getting a mortgage

Questions about your mortgage?

Get advice from our friendly mortgage advisers.

Getting a mortgage

New and existing mortgage customers

Your home may be repossessed if you do not keep up with repayments on your mortgage

Appointment and application help

Manage your appointment with a mortgage adviser and check the progress of your application.

To book, change or cancel an appointment with a mortgage adviser

To discuss your existing mortgage

To check the progress of your mortgage application

Information or documents you’ll need to apply

When you apply for a mortgage, we’ll need some things from you, such as:

  • Details of your names and addresses for the last 3 years
  • Details of your current income
  • Details about the property

Learn more about what you need to apply

Our range of mortgages

  • Unfortunately we’re unable to offer the following types of mortgages:
    • Buy to Let
    • Help to Buy
    • Mortgages for debt consolidation
    • Interest only mortgages

Important information if your current mortgage is on interest only

Repaying your mortgage at the end of your term

Is all or part of your Co-operative Bank or Britannia mortgage on an interest only basis? If so, this means your monthly payment pays only the interest on your loan. It is important that you plan how you will repay the outstanding balance on your mortgage at the end of the mortgage term.

You should check regularly that your repayment plan remains on track. If your plan does not provide sufficient funds to repay your mortgage at the end of the term, you should make alternative arrangements now and it may be necessary to sell your property.

Worried about repaying your final balance?

Don’t delay – the sooner you take action the better. There are a number of ways to close the gap between your outstanding mortgage balance and the value of your current repayment plan e.g. an investment or savings scheme (such as ISA, endowment policy or pension lump sum) which is used to repay an interest only mortgage at the end of the term. In addition, the following options are available.


You could convert some or all of the outstanding balance of your loan to a capital interest repayment mortgage over a term suitable and affordable to you. We will not charge you for switching from an interest only mortgage to a capital interest repayment mortgage. This option will ensure that your mortgage will be repaid at the end of the term. If you wish to discuss this matter further please contact us on 08000 288 288.


Overpayments are when you pay an extra amount into your mortgage, with the aim of reducing your interest in the long run or reducing your term time.

If you have a fixed rate mortgage, you can overpay by up to 10% of your outstanding mortgage balance each year. If you overpay more than 10% each year during your fixed term, however, you will incur an early repayment charge. Once your fixed term ends, you won’t need to pay an early repayment charge.

Customers who have a tracker mortgage can make unlimited overpayments without incurring an early repayment charge.

Full details of early repayment charges are provided with product information available on our rates pages.

Lifetime mortgage

One option could be to consider taking out a lifetime mortgage to pay off your outstanding mortgage balance with us. A lifetime mortgage is a form of equity release secured against your home which is repaid on death or on moving into long term care. The Co-operative Bank doesn’t offer this type of mortgage, but we have partnered with Legal General to offer their Lifetime Mortgage product to our customers. A lifetime mortgage is not suitable for everyone and acceptance is subject to eligibility criteria.

More information on Legal General Lifetime Mortgages can be found here, or please contact us for more information.

Independent Financial Advice

If you have concerns regarding your existing payment loan and require on suitable plans we strongly recommend that you seek advice from an Independent Financial Adviser.

  • Please remember it is your responsibility to ensure that you have enough funds to repay your mortgage at the end of the term.

Written by CREDIT

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