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Platform launches 95% LTV mortgage range

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  • 30/08/2018
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Platform launches 95% LTV mortgage range
Platform, the intermediary mortgage brand of The Co-operative Bank, has launched a range of 95% loan-to-value (LTV) mortgages aimed at first-time buyers.

 

The range of 95% mortgages will be available to new Platform customers who are purchasing a residential property from 3 September.

The range includes two-, three- and five-year fixed rate mortgages, all with two fee options, while the maximum loan amount across the range at launch will be £350,000.

There are six mortgages in the range including a five-year fixed rate mortgages at 3.49% with a £999 product fee and at 3.74% with no product fee.

All of the deals will be available with £500 cashback and the first standard valuation will be free for borrowers.

 

Rates reduced

Additionally, Platform has reduced its two- and five-year fixed rates at 60-75% LTV by up to 0.10% and 0.05% respectively, with no fee and £250 cashback.

Buy-to-let rates for two-, three- and five-year fixed terms are being reduced across all LTV bands by up to 0.15%, 0.35% and 0.25% respectively.

Paul Norcott, head of mortgages and insurance at The Co-operative Bank (pictured), said his team was pleased to support first time buyers and those who were finding it difficult to save a bigger deposit to buy a home.

He added: “At a time when there is renewed focus on the difficulties people in the UK are facing to get onto the property ladder we hope that our new mortgage range will be a welcome addition to the market and our broker partners will be able to find a suitable option for their clients who need higher LTV mortgage options.”

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