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Platform makes rate cuts across high LTVs and product switches

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  • 23/07/2021
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Platform makes rate cuts across high LTVs and product switches
Platform, subsidiary of The Co-operative Bank, has reduced rates on its high loan to value (LTV) mortgages and its product switches.

 

Reductions include to select two-year fixed rates between 80 to 90 per cent LTV, which also come with a £999 fee. These have been cut by up to 0.36 per cent.  

The deal at 80 per cent LTV is priced at 1.49 per cent and the 85 per cent LTV product has a rate of 1.82 per cent. The lender’s 90 per cent LTV option has a rate of 2.29 per cent. 

Equivalent products fixed for a five-year term have had rate reductions of up to 0.42 per cent. 

Five-year fixed rate products at 80 to 90 per cent LTV with a £1,499 fee have seen cuts of up to 0.43 per cent. 

Rates now vary between 1.64 per cent at 80 per cent LTV and 2.79 per cent at 90 per cent LTV. 

These products are available for both purchase and remortgage. 

Across its product switches range Platform has reduced the rates on mainstream residential products between 80 to 90 per cent LTV. 

Two-year fixed rate with a £749 fee have been reduced by up to 0.36 per cent, while five-year fixed rate alternatives have been cut by up to 0.42 per cent.  

The lender’s five-year fixed rate product switch option at 80 to 90 per cent LTV with a £1,249 fee have been reduced by up to 0.43 per cent. 

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