Platform, the intermediary mortgage brand of The Co-operative Bank, has made interest rate reductions to a number of its higher loan-to-value (LTV) mortgage products, with reductions of up to 0.25% being made to select mortgages at 80-95% LTV.
Highlights of the new range now available include:
· 5-year fixed rate at 2.14% at 90% LTV with a £1,999 fee and £250 cashback available
· 2-year fixed rate at 1.72% at 90% LTV with a £999 fee and £250 cashback available
· 2-year fixed rate at 2.56% at 95% LTV with a £0 fee and £250 cashback available
· 3-year fixed rate at 2.43% at 90% LTV with a £0 fee and £500 cashback available
· 5-year fixed rate at 2.43% at 90% LTV with a £0 fee and £500 cashback available
Fred Sharp, director of mortgage distribution at The Co-operative Bank, said: “We have been carefully reviewing our range of on sale mortgages since the start of 2022 and we are keen to support those aspiring to own their own home this new year who have a lower proportion of deposit to fund their purchase, this is why we’ve announced rate reductions to a number of our higher LTV mortgages today.
“Following the Bank of England Base Rate rise to 0.25% so close to the end of last year we’re continuing to review the products we have available to our broker partners as we move closer to the next MPC decision on February 2.”
