Mortgages

Platform launches 0.92% fixed rate in range refresh

Rozi Jones
|
30th July 2021
Co-op Co-operative co op cooperative
"We’re continually reviewing the products we have available to ensure we’re offering the kinds of products that work best for consumers within all stages of the housing ladder."

Platform, the intermediary mortgage brand of The Co-operative Bank, announced a number of interest rate reductions across its range, with two-year rates reducing by up to 0.36% and five-year rates up to 0.43%.

Available from Monday 2nd August, a two-year fixed rate is now available at 0.92% up to 60% LTV and 0.99% at 75% LTV, both with a £1,499 fee and £250 cashback.

Two-year fixed rates have reduced to 2.74% at 90% LTV and 3.39% at 95% LTV, both with no fee and £250 cashback.

The lender has also launched a new range of five-year fixed rate mortgages for borrowers looking to lend a minimum of £400,000.

The new five year mortgages have a £1,999 fee with rates ranging from 1.07% to 2.84% between 60-90% LTV with up to £250 cashback also available.

Fred Sharp, director of mortgage distribution at The Co-operative Bank, said: “We’re committed to offering competitive deals to borrowers who are in the market for a good value mortgage product for their circumstances. We’re continually reviewing the products we have available to ensure we’re offering the kinds of products that work best for consumers within all stages of the housing ladder.

"We’ve had a strong mortgage performance so far in 2021 with £3.1bn of gross lending during H1 as announced in our interim results and we’re looking to continue that momentum into the second half of the year. With a strong pipeline of circa £1.5bn in net lending we’re really well placed to do just that.”

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