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Platform reduces interest rates on select Help to Buy mortgages

by: Mortgage Solutions
  • 06/07/2018
  • 0
Platform reduces interest rates on select Help to Buy mortgages
Platform, the intermediary mortgage brand of the Co-operative Bank, has reduced interest rates on select Help to Buy mortgages including five-year fixed-rate products.

 

 

The Platform Help to Buy range is available up to a maximum 75% loan-to-value (LTV) and over a maximum term of 40 years for both first-time buyers and homeowners.

Platform’s Help to Buy mortgages are available at either 60% or 75% LTV and are fixed for either a two or five-year term. Products either have a £999 arrangement fee with no administration fee or are fee-free for borrowers.

Highlights of the changes being made today include reductions in interest rates of select two-year fixed rate mortgages by up to 0.05 percentage points and reductions to interest rates of five-year fixed rate mortgages by up to 0.10 percentage points.

The bank is offering a 2.09% five-year fixed rate mortgage at 60% LTV with a £999 arrangement fee and a 2.14% five-year fixed rate mortgage at 70% LTV with the same fee.

All of Platform’s Help to Buy mortgages are available with £500 cashback and free mortgage valuation.

Paul Norcott, head of mortgages and insurance at The Co-operative Bank said: “At Platform we’re continuing to support the first-time buyer market by reducing select interest rates within our already competitive Help to Buy range.

“We are working with more and more broker partners as they look for the best value deal for their clients looking to buy their first home and we will continue to support and service brokers looking to place a Help to Buy mortgage with Platform.”

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