Co-Op's Platform launches 95% LTV residential range

Co-Operative Bank's intermediary mortgage brand, Platform, is launching a range of 95% LTV mortgages.

Related topics:  Mortgages
Rozi Jones
30th August 2018
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"We’re pleased to be able to continue to support first time buyers and those who are finding it difficult to save a bigger deposit to buy a home."

The range, available from Monday, will include two, three and five-year fixed rates, all with two fee options, available up to a maximum loan amount of £350,000.

Highlights include a five-year fixed rate at 3.49% with a £999 product fee or 3.74% with no product fee.

All of Platform’s 95% LTV mortgages will be available with £500 cashback and the first standard valuation will be free for borrowers.

Other product changes taking place from Monday include rate reductions of between 5 and 10bps for purchase and remortgage products as well as buy-to-let rate reductions across all LTV bands.

On Platform's buy-to-let range, all two-year fixed rates will be reduced by up to 0.15%, all three-year fixed rates by 0.35% and all five-year fixed rates by up to 0.25%.

Paul Norcott, head of mortgages and insurance at The Co-operative Bank, said: “We’re pleased to be able to continue to support first time buyers and those who are finding it difficult to save a bigger deposit to buy a home.

"At a time when there is renewed focus on the difficulties people in the UK are facing to get onto the property ladder we hope that our new mortgage range will be a welcome addition to the market and our broker partners will be able to find a suitable option for their clients who need higher LTV mortgage options.

“Our team will be on hand to work with our broker partners to deliver this new product to market and will be able to answer any questions and provide further details.”

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