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

  • 07/05/2021
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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.

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