Platform announces higher LTV rate cuts

Platform announces higher LTV rate cuts

Platform has cut two and five-year fixed rates on select 85 and 90% LTV mortgages.

The intermediary mortgage brand of the Co-operative Bank said all five-year fixed rate buy-to-let mortgages have also been reduced by 0.05 percentage points.

New deals include the following:

Mainstream:

  • 2.34% five year fixed rate mortgage at 90% LTV with a £1,499 fee;
  • 1.54% two year fixed rate mortgage at 85% LTV with a £999 fee;
  • 1.94% two year fixed rate mortgage at 85% LTV with a £0 fee.

Buy-to-let:

  • 2.44% five year fixed rate mortgage at 65% LTV with a £1,999 fee (and £500 cash back);
  • 2.79% five year fixed rate mortgage at 70% LTV with a £0 fee;
  • 2.84% five year fixed rate mortgage at 75% LTV with a £0 fee.

Paul Norcott, head of mortgages and insurance at the Co-operative Bank, said: “We’re focused on growing our Platform mortgage business and these rate changes on higher LTV products, along with our recent move into Help to Buy underlines our commitment to helping brokers offer competitive deals for first time buyers.

“We continually review the products and rates we have available to ensure we’re listing mortgages our broker partners can recommend to their customers; especially those who want a mortgage that will help them take their first step on to the property ladder – we know that higher LTV mortgages are often what first time buyers are looking for.”