Platform launches 0.95% mortgage amid widespread rate cuts

Platform, the intermediary mortgage brand of The Co-operative Bank, has announced rate cuts of up to 0.37% across a number of its mortgage products.

Related topics:  Mortgages
Rozi Jones
14th June 2021
Co-op Co-operative co op cooperative
"We are also committed to supporting first-time buyers who often need higher LTV lending, with some of our 80-90% LTV products also offering up to £1,000 cashback "

Interest rate reductions will come into effect from Wednesday, 16th June and selected three and five-year mortgages between 80-90% LTV will also benefit from no product fee and up to £1,000 cashback.

Two-year fixed rates now start from 0.95% at 60% LTV with a £1,499 fee. Other two-year fixed rate highlights include a 60% LTV product at 1.31% with no fee, while 85% and 90% LTV products have been cut to 2.27% and 2.84% respectively, both with a £999 fee.

Five-year fixed rates now start from 1.16% at 60% LTV with a £1,499 fee. At 85% LTV, rates have been lowered to 2.61% and a 90% LTV product is now available at 3.31%, both with a £999 fee.

All of the above products offer £250 cashback.

Fred Sharp, director of mortgage distribution at The Co-operative Bank, said: “We’re making interest rate reductions to a number of the mortgages in our range and we are proud to continue to offer competitive deals that are equally good value for home movers and those looking for the best remortgage options with low rates on our range of 60% - 75% LTV mortgage products. We are also committed to supporting first-time buyers who often need higher LTV lending, with some of our 80-90% LTV products also offering up to £1,000 cashback for borrowers.

”As well as offering competitive mortgage rates, Platform is also continuing to listen requests from broker partners and to expand its service options. Platform has recently introduced broker led variation as part of it’s offering as a direct result of broker feedback."

More like this
Latest from Property Reporter
Latest from Protection Reporter
CLOSE
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.