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Platform brings out 95 per cent LTV deals and ups rates

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  • 11/05/2023
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Platform brings out 95 per cent LTV deals and ups rates
Platform, part of The Co-operative Bank, has released a range of six 95 per cent loan to value (LTV) deals and up rates for new business and product switching offers.

The lender will offer two, three and five-year fixed rate terms, with £1,499 product fee, £999 product fee and no product fee options available.

Products also come with £250 or £500 cashback.

The deals include a two-year fixed rate with £1,499 fee priced at 5.46 per cent. Its £999 product fee version has a rate of 5.57 per cent and its no-fee version is 5.86 per cent.

All the above deals come with £250 cashback.

The lender will also offer a three-year fixed rate with £1,499 product fee which has a rate of 5.41 per cent, its £999 product fee version comes to 5.52 per cent whilst its no-fee equivalent is 5.81 per cent.

Its five-year fixed rate with £1,499 product fee is 4.89 per cent, its £999 product fee equivalent is 4.93 per cent and its no-fee version is 5.05 per cent.

The fee deals for three and five-year fixed rates come with £250 cashback and the no-fee deals have £500 cashback.

 

New business

On the new business side, it is reintroducing mainstream two and five-year fixed rates, increasing rates by up to 0.34 per cent.

It is also cutting its 10-year fixed rate at 60 per cent LTV by 0.03 per cent.

 

Professional, BTL and HTB

On the professional mortgage side, two-year fixed rates will rise up to 0.35 per cent and five-year fixed rates will go up by 0.22 per cent.

Buy-to-let rates will increase by up to 0.32 per cent and two-year premier fixed rates will go up by 0.33 per cent.

Two and five-year Help to Buy fixed rates will go up by 0.35 per cent.

On the product switch side, in its mainstream range two and five-year fixed rates will increase by up to 0.31 per cent and three-year fixed rates will rise by 0.38 per cent.

Two and three year fixed buy-to-let rates will go up by around 0.32 per cent, five-year fixed rates will rise by 0.27 per cent, whilst premier two-year fixed rates will jump by up to 0.45 per cent.

Help to Buy, both two, three and five-year fixed rates will rise by around 0.37 per cent.

Darrell Evans, chief commercial officer at The Co-operative Bank, said: “We are really pleased to be re-launching our 95 per cent LTV mortgage range to the market in support of aspiring homeowners.

“Saving for a deposit can a big hurdle for first time buyers when trying to get onto the property ladder and we hope this new range helps people to realise their goal of owning a home.”

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