As part of the bank's commitment to lend up to £360 million to first-time buyers in 2012, the new products are available from March 23rd exclusively to those buying their first home with just a 10% deposit.
The product range includes a three-year fixed rate loan at 90% LTV; the rate is 4.69%. Its 90% LTV lifetime tracker product has a current rate of 4.59%. The mortgages also have no arrangement fees and include a free standard valuation.
James Hillon, head of mortgages at The Co-operative Bank, said: "We're committed to increasing our lending to first-time buyers this year and are backing up that promise with a new product range to help those who may have just missed out on the stamp duty holiday.
"Buying your first home is a milestone but the reality of finding the money for stamp duty on top of a deposit will delay many first-time buyers from making this step. We want to encourage home ownership wherever possible by introducing affordable options for those looking to buy."
