Platform relaunches premier BTL products with rates from one per cent

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  • 30/09/2021
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Platform relaunches premier BTL products with rates from one per cent
Platform, subsidiary of The Co-operative Bank, has relaunched its premier buy-to-let (BTL) range with rates starting from one per cent.

 

This includes a two-year fixed rate at 60 per cent and 65 per cent loan to value (LTV), where rates are one per cent and 1.15 per cent respectively. Both come with a £2,450 fee.

For the two-year fixed rate at 60 per cent LTV, there has been a reduction of 0.54 per cent, whilst the two-year fixed rate at 65 per cent LTV has fallen by 0.81 per cent. It is available for purchase and remortgage, as well as a product switch.

The minimum and maximum loan amounts for the premier BTL range is £350,001 to £500,000, whilst the minimum household income is £60,000.

Potential borrowers can have a maximum of three BTL properties, mortgaged or mortgage free.

Borrowers must be an owner occupier and should have six months in current employment or two years in self-employed.

The mortgages are not available on new-build flats and local authority flats may be considered upon request.

This is one of the most competitive rates on the market, with the lowest rate in the BTL space a 0.99 per cent fixed rate deal from The Mortgage Work.

The lender has also reduced a range of its mainstream BTL five-year fixed rate products between 80 and 90 per cent LTV.

Its five-year fixed rate at 80 per cent LTV has decreased by 0.24 per cent, whilst at 85 per cent LTV has fallen by 0.27 per cent. Its five-year fixed rate at 90 per cent LTV has reduced by 0.36 per cent.

The above trio comes with a £1,999 fee.

 

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