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Bank of Ireland, Post Office and Platform make high LTV product changes – updated

  • 13/08/2020
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Bank of Ireland, Post Office and Platform make high LTV product changes – updated
Lenders have made a host of changes to products with high loan to value (LTV) deals being withdrawn and re-launched.


Bank of Ireland (BoI) has introduced four new products at 85 per cent LTV.

There are a pair of fee-free deals, both with a standard valuation included and sliding early repayment charges (ERCs). The two-year version is at 2.88 per cent with the five-year version at 2.9 per cent.

A Help to Buy fee-free deal fixed for five-years is available at 2.99 per cent, while a first-start product for purchases only is available at 2.95 with a £995 fee. This includes £400 cashback and a minimum loan of £50,000.

Post Office Money has also introduced a pair of 85 per cent LTV residential fixed-rate products – both come with no fee and include valuation and standard legals.

The two-year fix is at 2.95 per cent and five-year version is priced at 2.97 per cent.


Platform – updated

Platform has delayed the incoming changes to its mortgage products until Monday 17 August – it had originally announced the moves would be made on 14 August.

The lender is making a series of product changes which will leave its maximum LTV at 80 per cent, with only five-year fixed rate products available.

The lender told Mortgage Solutions it had taken the decision “to temporarily withdraw some of our products from the market following an unprecedented demand for new mortgages”.

“We are prioritising existing applications to ensure we’re able to maintain our service levels for customers. We will be aiming to reintroduce some of the products as soon as possible,” it added.

Standard residential products will be available at 60 per cent, 70 per cent, 75 per cent and 80 per cent LTV with zero fee or a £999 fee, while a 60 per cent LTV deal will be available with a £1,499 fee.

Help to Buy deals will be offered at 60 per cent and 75 per cent LTV with either £0 fee or £999 fee.

It added that it was taking the opportunity to re-introduce some of the products temporarily withdrawn last week.



HSBC has also confirmed the rates for its 60 per cent LTV deals which have been cut today by up to 0.2 per cent.

The two-year fixed, no fee, is down from 1.64 per cent to 1.44 per cent with the £999 fee version down from 1.24 per cent to 1.14 per cent.

The five-year fixed, no fee, is down from 1.74 per cent to 1.59 per cent and the £999 fee deal down, from 1.49 per cent to 1.34 per cent.

HSBC’s two-year tracker with a £999 fee is down from 1.34 per cent to 1.24 per cent while its Premier Exclusive five-year fix with a £1,499 fee is down from 1.46 per cent to 1.31 per cent.



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