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Platform to launch five-year fix at 3.75 per cent

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  • 17/02/2023
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Platform to launch five-year fix at 3.75 per cent
Platform, the intermediary mortgage subsidiary of The Co-operative Bank, will launch a range of mortgages with rates as low as 3.75 per cent on Monday.

This follows reductions of up to 0.34 per cent across its two and five-year fixes. 

At 60 per cent loan to value (LTV), there is a five-year fix priced at 3.75 per cent with a £1,999 fee and £250 cashback. The minimum loan size for this mortgage is £400,000. 

Another sub-four per cent option is the five-year fixed product, also at 60 per cent LTV, with a fee of £1,499 and £250 cashback. This is priced at 3.85 per cent. 

Platform has added a five-year fix at 80 per cent LTV at 4.15 per cent, with a £1,499 fee and £250 cashback, as well as a two-year fix at 85 per cent LTV with a rate of 4.62 per cent. This has a £999 fee and offers £250 cashback. 

Further, there is a two-year fixed product at 90 per cent LTV with a rate of 5.14 per cent. This has no fee and a £250 cashback incentive. 

The lender has also launched a two-year tracker product with no fee. 

Darrell Evans, chief commercial officer at The Co-operative Bank, said: “We have been carefully reviewing our range of on sale mortgages since the start of 2023 and we are keen to support homeowners to get the best possible deal on their mortgage which is why we’ve announced competitive changes to our range that will launch on Monday.  

“The rising base rate environment remains a challenge for the mortgage market and as a lender, we need to balance what we’re offering with the movements made centrally. We’ll continue to keep our range in review and offer good value deals to our broker partners who are working hard to support their customers.” 

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