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Barclays and Platform cut interest rates – roundup

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  • 02/10/2018
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Barclays and Platform cut interest rates – roundup
Barclays and Platform have reduced their fixed mortgage interest rates.

 

For residential purchases and remortgages, Barclays has cut its two-year fixed rates to 1.68% at 80% loan to value (LTV), with a £999 fee.

In the reward range, the lender has also cut its two-year fixed mortgages to 1.67%, at 80% LTV with £999 fee.

These changes are available from 2 October.

 

Platform

Platform, the intermediary mortgage brand of The Co-operative Bank, has reduced interest rates on select 95% LTV mortgages by up to 0.15%.

Other two and five-year fixed rate mortgages have been reduced by up to 0.05%.

The 95% LTV mortgage range from Platform includes two-year fixed rate at 3.14% and 3.39%, with £999 and £0 fee respectively, as well as three-year fixed at 3.24% and 3.54%, with a £999 and £0 fee respectively.

It also includes five-year fixed at 3.49% and 3.64% at 95% LTV, with a £999 and £0 fee respectively.

Platform is now able to accept builders’ incentives of up to 5% of the purchase price for all new build properties, including Help to Buy applications.

Head of mortgages and insurance at The Co-operative Bank, Paul Norcott, said: “By lowering the interest rates on our 95% LTV mortgages, we are offering our broker partners good value mortgage products when looking for a higher LTV mortgage for their clients, that will enable them to purchase their first home.

“We are also committed to act on broker feedback which is why we’ve made the change to our policy on builders’ incentives.

“We are now able to accept up to 5% of the purchase price of new build properties and we also continue to offer a competitive range of Help to Buy mortgages to further aid those looking to buy their ideal newly built home.”

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