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Platform relaunches 90 per cent LTV deals and cuts LTI in overhaul

  • 13/11/2020
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Platform relaunches 90 per cent LTV deals and cuts LTI in overhaul
Platform has made a series of changes to its mortgage offering with high loan to value (LTV) product additions, removals and a cut to its loan to income (LTI) multiplier.


Platform is reintroducing a pair of five-year fixed rate products at 90 per cent LTV with £0 and £999 fee options at 3.99 per cent and 3.79 per cent respectively.

However, all five-year fixes with £999 fee at 60 to 80 per cent LTV have been temporarily withdrawn. A five-year fixed rate product at 75 per cent LTV with £1,499 fee has been added to the range.

The lender is also reducing the LTV at which its maximum income multiplier can be considered from 80 per cent to 75 per cent LTV.

All lending above 75 per cent LTV will now have a maximum income multiplier of 4.49, while all lending at 75 per cent LTV or lower will still be eligible for the 4.85 times income multiplier.

Carolyne Gregory, director of retail lending at The Co-operative Bank, said: “We have seen unprecedented volumes of mortgage applications in recent months and we are carefully managing the support and service we offer our customers.

“We are working hard to process existing applications and we have now taken the decision to reintroduce 90 per cent LTV products back into our range as we know that there is a consumer demand for higher LTV mortgages.

“We are continuing to monitor the wider market and will keep our product offering and rates in review to ensure our new mortgage products, and our remortgage and product switch options remain competitive in what continues to be a challenging time for consumers.”


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