Co-op's Platform cuts high-LTV rates by up to 0.25%

Platform, the intermediary mortgage brand of The Co-operative Bank, has reduced rates across a number of its higher LTV mortgage products, with reductions of up to 0.25 percentage points being made to select mortgages at 80-95% LTV.

Related topics:  Mortgages
Rozi Jones
14th January 2022
Co-op Co-operative co op cooperative
"Following the Bank of England Base Rate rise to 0.25% so close to the end of last year we’re continuing to review the products we have available to our broker partners"

At 95% LTV, a two-year fixed rate is now available at 2.56% with no fee and £250 cashback available.

At 90% LTV, two-year fixed rates now start from 1.72% with a £999 fee while five-year fixes start at 2.14% with a £1,999 fee.

Fee-free 90% LTV options include three and five-year fixes at 2.43% with £500 cashback.

Additionally, Platform has reintroduced two, three and five-year fixed rate products at 60-75% LTV with a £999 fee and five-year fixed products at 60-75% with no fee.

Fred Sharp, director of mortgage distribution at The Co-operative Bank, said: “We have been carefully reviewing our range of on sale mortgages since the start of 2022 and we are keen to support those aspiring to own their own home this new year who have a lower proportion of deposit to fund their purchase, this is why we’ve announced rate reductions to a number of our higher LTV mortgages today.

"Following the Bank of England Base Rate rise to 0.25% so close to the end of last year we’re continuing to review the products we have available to our broker partners as we move closer to the next MPC decision on February 2.”

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