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Picture courtesy of Dan.
| Value for Money | 7/10  |
|---|---|
| Reviewer Rating | 7/10 |
| Overall Rating | 4.7/10  |
Full review by
gauly
on 18th Aug 2006
User Rating : 5
Respect :
0
Good Points: Started out as good value for money.
Bad Points: The ever increasing fees and standard variable rate of their mortgages.
General comments: My Co-operative Bank Mortgage started as good value for money. The customer service is good, and they answer the phone promptly and are helpful. They reduced my mortgage redemption fee when I wrote two letters of complaint.
The increase in their standard variable rate has been enormous. I don't believe their has been a single change in the Bank of England base rate that they didn't use to increase their SVR by at least 0.1%. Just to add insult to injury, they increased their SVR by 0.25% last month when there was no increase in the base rate at all! Then raised it again the next month by 0.25% when the base rate went up. They also increased their mortgage exit fee from £75 to £195 in those 3 years (though they did reduce it back to £75 when I complained).
All in all, a mortgage that started out well, but I got increasingly worse value for money.
gauly's review and ratings | 169 words
Review by
Janine
expert review 
on 17th Dec 2003
User Rating : 9
Respect :
+1
The co-operative bank offer a range of products, they tend to change roughly every six months. In the past they have offered fixed, variable capped and tracker rates. All have flexible features such as: All interest is calculated daily, you can make use of the overpayment fund and make lump sum payments or arrange to increase your direct debits each month. This is set against the amount you have borrowed and reduces the total interest you have to pay straight away. This can help pay off your ...
Janine's full review | 608 words
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