Xbox - Ridiculous Controller Lag - Couch co op

Me and my girlfriend both love this game, but it's nigh unplayable for a lot of runs due to controller lag and unresponsiveness.

When charging melee attacks the characters just won't release. They'll keep running in random directions even when not touching the controller. They won't perform melee attacks. They won't load cannons. They won't pick up items.

It's lost us a fair few runs - in our last run we got hit 4 times in the last boss because our characters were just stuck charging and wouldn't stop! It makes us not want to play anymore.

For a game designed for local co op, this is rather unacceptable.

Is there going to be a fix for this or is this how it's always going to be?