You are here: Home - News -

Platform back in 95 per cent LTVs and refreshes wider resi offer

by:
  • 07/05/2021
  • 0
Platform back in 95 per cent LTVs and refreshes wider resi offer
Platform has re-entered the market for high loan to value (LTV) lending with a range of 95 per cent products.

 

The mortgages will be available from Monday with two and five-year fixed rates, fees at £0, £999 or £1,499, and £250 cashback on all of them.

 The two-year rates are 4.11 per cent for a fee-free option, 3.77 per cent with £999 fee, and with £1,499 fee, the rate is 3.61 per cent.

The five-year fixed products are priced at 4.13 per cent with £0 fee, 3.99 per cent with a fee of £999, and at £1,499 fee, the rate is 3.93 per cent.

Carolyne Gregory, director of retail lending at Platform’s parent company, The Co-operative Bank (pictured), said: “We are really glad to be re-launching our 95 per cent LTV range to the market, adding more options in support of aspiring home-buyers who can only afford a five per cent deposit.

“We’ve seen demand for this LTV band and have come back to market with competitive mortgages,” she said.

 

More five-year options

Further, Platform added more five-year fixed options and cut rates on a number of other products. Rates on the Professional Mortgage range have been reduced by up to 0.12 percentage points.

There’s a two-year fixed at 60 per cent LTV, priced at 1.15 per cent, with £999 fee.

The two-year fixed at 85 per cent LTV is priced at 2.34 per cent, with £1,499 fee.

And the two-year rate at 85 per cent LTV, with £999 fee, is 2.48 per cent.

The trio of two-year products come with £250 cashback.

 There’s also a five-year fixed products at 85 per cent LTV, priced at 3.08 per cent, with £0 fee and £1,000 cashback.

The lender changed two criteria: it will accept stipends alongside another source of income, and LTV limits are raised from 75 to 85 per cent LTV on residential applications for capital raising and debt consolidation.

There are 0 Comment(s)

You may also be interested in

Read previous post:
interest rates
Base rate held as BoE predicts stronger economic recovery

The Bank base rate was held at 0.1 per cent by the Monetary Policy Committee (MPC) to help sustain growth...

Close