The intermediary arm of The Co-operative Bank is also re-introducing its 3-year fixed rate mortgage options from next Wednesday.

Highlights of the mortgage range inclue a 3-year fixed rate at 2.65% at 80% LTV, a 5-year fixed rate at 3.15%at 85% LTV both with a £0 fee and £1000 cashback and a 5-year fixed rate at 1.18% at 60% LTV with £1,499 fee and £250 cashback.

Fred Sharp, director of mortgage distribution at The Co-operative Bank, said: “We’re committed to offering competitive deals to borrowers who are in the market for a good value mortgage product for their circumstances.

“We’re reducing the interest rates on a number of our on sale mortgages to support buyers within all stages of the housing ladder and also offering up to £1000 cashback on select mortgages to help ease the cost of buying a property for aspiring homeowners or home movers.”