Britannia mortgages review
Britannia was a mutual building society that merged with The Co-operative Banking Group in 2009.
New customers looking for a Britannia mortgage will therefore have to look at The Co-operative Bank instead or consider alternative providers.
The Co-operative offer mortgages for former Britannia mortgage customers and new customers including:
- First time buyer mortgages
- Moving home mortgages
- Second mortgages
Compare Britannia mortgages with other leading lenders
Our service compares mortgage deals from all the top UK mortgage lenders, so you can get the very best deal possible for your borrowing needs and personal circumstances. Try out our free mortgage calculator to find a deal that suits you or request a quote for more bespoke advice.
Fair Mortgages’ expert mortgage brokers offer:
- Whole of market service - we work with most UK lenders
- Access to leading market mortgage rates
- Exclusive loan deals not available on the high street
- Fast turnaround - speak to us today if you need to move quickly
- Mortgage providers willing to lend to those with previous defaults and missed payments
- Additional finance on top of your existing mortgage or buy to let mortgage when you need to borrow more
To investigate your mortgage options, call Fair Mortgages today on 0117 313 7780 or fill in our call back form on the right hand side of the page.
Britannia mortgage rates
Mortgage rates vary significantly from lender to lender and depending on which mortgage product you choose. If you are not happy with the rate you are paying on your Britannia mortgage, or are looking to find the best deal on a new mortgage, there are various options to consider.
Fixed rate mortgages
A fixed rate mortgage will give you a set interest rate to pay for the first few years of your mortgage. The fixed rate normally lasts for anywhere from 2 years to 10 years, after which you will normally switch to a Standard Variable Rate of interest.
Fixed rate mortgages are good for those who want to know exactly how much they will be paying each month and are a sensible choice when mortgage rates are low.
Tracker mortgages tie your mortgage rate to the Bank of England Base Rate (or an equivalent), which means your interest rate will rise or fall in line with the base rate you are tracking. The rate you pay will be set at a fixed interval above the base rate e.g. 0.50%. If the current base rate is 0.25%,, then you will pay 0.75%. Whereas, if the base rate rises to 0.50%, you will pay 1.00% and so on.
Tracker mortgages are good for people who want to make sure their interest rate stays broadly in line with inflation. They tend to start off at a lower interest rate than fixed rate mortgages, but the interest rate can rise or fall, making the amount you end up repaying less predictable.
When to remortgage
Many people with a fixed or tracker rate mortgage fail to remortgage when their fixed or tracker rate ends, meaning they end up paying more than they need to.
Make sure to check the terms of your mortgage and see what conditions there are on remortgaging – some deals will require you to keep the mortgage for a certain period after the fixed or tracker rate ends, while others will let you remortgage to a better deal straightaway.
Compare Britannia mortgage deals with our free mortgage calculator
If you are a current Britannia mortgage customer or a new customer looking to find the best mortgage deals, the sheer range of providers and mortgage products on offer can make choosing the right one for you a challenge.
At Fair Mortgage, we aim to make the process of finding a great mortgage deal as simple as possible. We offer a free mortgage calculator allowing you to quickly and simply compare mortgage deals from across the market with your borrowing needs and financial circumstances.
If you want to make things even easier, you can request a quote. Fill in our contact form on the right hand side of the page, or give our expert mortgage team a call on 0117 313 7780 for personal advice on your borrowing options.