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Our year in review - streamlining processes and expanding product ranges

Throughout 2024, we’ve continuously listened to broker feedback and worked hard to make improvements to our service and product ranges, so we can keep supporting you and your clients better.

We’ve made great strides this year, but there’s still more improvements to come. Here’s a recap of the initiatives we’ve delivered in 2024:

  • Green mortgages - as an ethical lender, we’re always looking at how we transition our mortgage portfolio in a way that aligns to a net zero pathway. As a first step we’ve launched a Green Purchase Only product for properties with an EPC rating of A or B at 80%-95% LTV.
  • Porting offer - we’ve extended the offer on porting to a total of 12 months.
  • Increased loan sizes at different LTVs - we’ve raised 95% to £600k, 90% to £750k, 85% to £1m and 80% to £1.5m.
  • Product labelling - we’ve added some further labelling to make each product range easier to identify. So for example, you’ll now see ‘NB’ for new business products.
  • Interest-only switches - we now have the ability to offer interest-only on product switches.
  • Residential interest-only policy - we’ve improved our residential interest-only policy to accept £300k equity at the end of the term for downsizing.
  • Migration of all customers onto Broker Portal - we migrated all our Co-operative Bank, Britannia and Platform customers onto one system to enable future development on Broker Portal, where brokers will be able to see all their customers in one place.
  • Introduction of “common sense” lending - we don’t believe in cookie cutter lending and we’re always happy to work through any queries you might have prior to placing a case with us, even if it’s not straightforward, so just give us a call.
  • Improved service levels - we’ve worked hard to improve our service levels, focusing on speed, consistency and accuracy. This year we’ve introduced regional processing teams to improve the speed in which your cases are handled.
  • Plus, there are some exciting changes still to come on our variations process, which we will keep you updated on in due course.

Making a difference this winter

A small plea from me now on a very worthy cause and how you can help us support families facing accommodation difficulties.

This winter, we’re uniting with Shelter to stand with families facing the housing emergency. Over 150,000 (figures accurate as at 31 March 2024) children in England could spend Christmas homeless in temporary accommodation, which is threatening their mental and physical health.

Ask them what they want for Christmas and, amongst the usual toys and treats, you’ll also get the UK’s housing emergency laid bare: a flushing toilet. My own bed. To see my friends again. No more damp.

Throughout November and December, The Co-operative Bank will be supporting Shelter’s ‘All we want for Christmas’ fundraising appeal.

We’ve pledged £50,000 to Shelter’s appeal, but with the support of you, our colleagues, and our customers, we hope to raise much more – all helping families living in temporary and damaging accommodation.

No child should ever have to live like this, let alone at Christmas. All they want for Christmas is a safe place to call home – let’s help make that happen.

To donate visit https://www.justgiving.com/page/the-co-operative-bank-shelter-winter-appeal

Thanks for your continued support.

Fred Sharp, Director of Intermediary Distribution