The bank has reduced rates on two and five-year fixes at 60 to 75 per cent loan to value (LTV) by up to 0.10 per cent.
At 85 and 95 per cent LTV, rates on two and five-year fixes have been cut by up to 0.12 per cent. Rates now range from 2.82 per cent for a fee-free two-year fixed mortgage at 85 per cent LTV and 4.13 per cent for a fee-free five-year fixed mortgage at 95 per cent LTV.
The five-year fixed product at 85 per cent LTV with no fee has increased by 0.07 per cent to 3.15 per cent.
Across its buy-to-let offering, Platform has reduced rates on two-year fixes at 60 to 75 per cent LTV by as much as 0.10 per cent.
For switching borrowers, residential rates have been cut by up to 0.12 per cent while buy-to-let products have seen reductions up to 0.10 per cent.
It has re-introduced three-year fixes to its mainstream residential range.
The changes come into effect from today.
United Trust Bank increases LTV limit
United Trust Bank (UTB) has returned to high LTV lending by increasing to 85 per cent LTV for first and second charge mortgages.
The bank will lend up to £500,000 to employed and self-employed borrowers.
Rates will begin from 3.80 per cent on two, three and five-year fixes. The loan to income multiple is set at five times income for first charge mortgages and six for second charge loans.
Eligible properties must have a minimum value of £100,000.
UTB has also updated the technology for document uploads, which will be available to all introducers through its mortgage portal.
The new system allows documents to be automatically allocated to the relevant cases before the full mortgage application has been submitted. This is expected to help prioritise documents when they are ready for underwriting.
Emails will be removed from the process and the changes are expected to reduce the time taken to issue mortgage offers.
Buster Tolfree (pictured), commercial director – mortgages, United Trust Bank, said: “UTB supported brokers throughout 2020 and despite the challenges we kept lending and introduced numerous product, criteria and process changes.
“This is yet another major digital enhancement designed to further streamline the application process and deliver smoother, quicker completions for brokers and customers.