Platform has announced it will release a sub one per cent interest rate mortgage, priced at 0.95 per cent.
The product will be available from 2 June at 60 per cent loan to value (LTV) with a £1,499 fee.
The lender has also reduced rates on its residential range and re-introduced a three-year fixed product.
The three-year fixed mortgage is at 80 per cent LTV and has a rate of 2.65 per cent. It has no fee and offers £1,000 cashback.
The five-year fix at 60 per cent LTV with £250 cashback and a £1,499 fee has been reduced from 1.24 per cent to 1.18 per cent. The equivalent at 85 per cent LTV has been cut from 2.71 per cent to 2.67 per cent.
Fred Sharp, director of mortgage distribution at Platform’s parent company, The Co-operative Bank, said: “We’re committed to offering competitive deals to borrowers who are in the market for a good value mortgage product for their circumstances.
“We’re reducing the interest rates on a number of our on sale mortgages to support buyers within all stages of the housing ladder and also offering up to £1,000 cashback on select mortgages to help ease the cost of buying a property for aspiring homeowners or home movers.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
