Mortgages

Platform launches 0.95% two-year fix

Rozi Jones
|
28th May 2021
Co-op Co-operative co op cooperative
"We’re reducing the interest rates on a number of our on sale mortgages to support buyers within all stages of the housing ladder and also offering up to £1,000 cashback on select mortgages"

Platform, the intermediary mortgage brand of The Co-operative Bank, is launching a sub-1% interest rate mortgage at 60% LTV.

Available from Wednesday 2nd June, the two-year fixed rate will be available at 0.95% with a £1,499 fee and £250 cashback.

Platform is also introducing a number of rate reductions and is re-introducing its three year fixed rate mortgage options.

A three-year fixed rate at 80% LTV will be available at 2.65% with no fee and £1,000 cashback.

Five-year fixed rates are now available from 1.18% at 60% LTV with a £1,499 fee and £250 cashback.

At 85% LTV, five-year fixed rates start at 2.67% with a £1,499 fee and £250 cashback or 3.15% with no fee and £1,000 cashback.

At 90% LTV, a five-year fix has reduced to 3.35% with a £999 fee and £250 cashback.

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 reducing the interest rates on a number of our on sale mortgages to support buyers within all stages of the housing ladder and also offering up to £1,000 cashback on select mortgages to help ease the cost of buying a property for aspiring homeowners or home movers.”

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