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Platform withdraws zero fee deals up to 90 per cent LTV; Clydesdale cuts rates

  • 22/07/2020
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Platform withdraws zero fee deals up to 90 per cent LTV; Clydesdale cuts rates
Platform has withdrawn its fee free five-year fixed rate mortgage at 90 per cent loan to value, leaving one deal available for borrowers with a 10 per cent deposit.

Platform previously withdrew its fee free 90 per cent LTV deal on 8 July to allow it to manage its service levels, but then brought the product back.

The lender has temporarily removed the deal, but a 3.29 per cent five-year fixed at 90 per cent LTV, with a fee of £1,499, remains on offer.

Two other zero free mortgages have been temporarily removed from Platform’s range; a two-year fixed zero fee product from 60 per cent to 80 per cent LTV and a five year fixed zero fee product at 85 per cent LTV.

A spokesperson for Platform said: “Due to unprecedented demand we have made the decision to pause applications for the 90 per cent LTV fee free range and are now withdrawing it from the market temporarily. However, the 90 per cent LTV fee paying product remains available.

Meanwhile, Clydesdale Bank has cut the rate of its two-year fix at 75 per cent LTV from 1.57 per cent to 1.52 per cent, and lowered the cost of its five-year fixed deal at 80 per cent LTV from 1.94 per cent to 1.88 per cent.”

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