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Platform expands sub-one per cent offering

  • 20/08/2021
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Platform expands sub-one per cent offering
Platform has lowered rates across its range by up to 0.23 per cent, adding another sub-one per cent mortgage product to its offering.


The changes apply from Monday, with highlights including a 0.16 per cent cut to its two-year fixed rate at 60 per cent loan to value (LTV)down to 0.89 per cent.

This sub-one per cent deal is in addition to its existing 60 per cent LTV mortgage with a £1,499 fee, which currently has a rate of 0.92 per cent.

In addition to current cuts at the same lending tier, the five-year fixed rate will be priced at 1.04 per cent, down from 1.19 per cent.

Platform’s five-year fixed rate at 90 per cent LTV has fallen by 2.84 per cent to 2.79 per cent, whilst its 95 per cent LTV product has been reduced to 3.46 per cent from 3.59 per cent.

The products at 60 and 90 per cent LTV are subject to a £999 fee and come with £250 cashback. The product at 95 per cent LTV has no fee and also offers £250 cashback.

The Co-operative Bank’s mortgage distribution director, Fred Sharp, said the lender would continue to review interest rates it offered to make sure it was offering competitive deals.

He said: “We’re committed to look at how we can support a variety of buyer profiles to find their next right move in the housing market, whether that’s their first step on to the ladder or taking a step up.

“We’re working closely with our broker partners to ensure we’re covering a broad range of lending needs with our good value mortgage options.”

The lender has made a number of changes to its range in recent months, including relaunching select mainstream and buy-to-let mortgage products for new business and production switching ranges.

It also launched Help to Buy product transfers and re-entered 95 per cent LTV lending earlier this year.

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