Platform reduces rates on buy to let products

Platform has reduced the rates on its entire range of 2 year fixed rate buy to let products by 20 basis points.

The rate reduction consists of both the standard BTL range and the ‘Premier Buy to Let' range which was launched last month by the Co-operative Bank's dedicated intermediary mortgage lender, Platform.

The rate reductions come just a month after Platform committed to significantly increasing its lending in the buy to let market in 2012 as part of its continued broker support.

The products available are up to a maximum LTV of 75% (standard) and 65% (Premier) and also includes products available on a Let to Buy basis, which are available to customers who are purchasing a new residential property who do not want to sell their existing property.

Nick Allen, Product Marketing Manager, at Platform said: "Buy to let lending continues to remain buoyant with demand for rental properties remaining high.

"Platform is committed to supporting intermediaries and hope that the reduction in rates on our 2 year fixed rate products will enable them to offer a comprehensive range of competitive products to their clients."