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Platform to rebrand and launches broker portal with product and criteria changes

  • 25/09/2023
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Platform to rebrand and launches broker portal with product and criteria changes
Platform will now be known as The Co-operative Bank for Intermediaries in order to more closely align it with its parent company and part of its “ongoing transformation and technology upgrade programme”.

The lender is also unveiling a new system, Broker Portal, which will “will help to deliver a customer-focused service and simplify the application journey”.

The portal uses “intuitive technology” to foster product innovation, which will allow the firm to deliver products tailored to customer needs.

The first set of products delivered using the portal is a range of residential interest-only mortgages.

The lender has also increased the maximum loan size on buy-to-let products to £750,000, at 95 per cent LTV it has gone up from £350,000 to £500,000 and at 90 per cent LTV, it has risen from £500,000 to £600,000.

The company is also replacing the two-year tracker with a lifetime tracker.

The firm said it was “committed to delivering competitively priced products and offering clear lending criteria”.

“It will provide a smooth application process and champion an ethical approach, setting it apart from the rest of the industry,” it added.

Fred Sharp, director of intermediary distribution at The Co-operative Bank, said: “Close alignment to The Co-operative Bank brand is important as we continue to strengthen our position as the original ethical bank and provide consumers with an ethical alternative.

“Our new application system, Broker Portal, will allow both brokers and customers to benefit from more efficient technology and will give us the flexibility to introduce new products and services, such as the residential interest only mortgages launching today.”

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