More mortgage misery as the Co-op becomes the latest to raise interest rates The bank is launching a new product specifically for those customers with a higher LTV who are seeking an alternative, which is a five-year fixed rate mortgage, available at the same rate they currently pay. The Co-op Bank also offers other products including fixed rate and tracker mortgages. Clydesdale and Yorkshire banks will increase their standard variable rates (SVRs) from 4.59% to 4.95% from May 1, affecting 30,000 customers. RBS-NatWest said it is pushing up rates on two of its products - the Offset and the One Account - by 0.25%, taking them to a rate of 4%, affecting around 200,000 customers. Halifax announced that some 850,000 borrowers will see their mortgage costs increase as the SVR rises from 3.5% to 3.99% from May 1. And the Bank of Ireland also announced that it is increasing its SVR, affecting 100,000 UK customers. It will raise the SVR on its mortgages to 4.49% from 2.99% in two stages.