Platform reduces mainstream fixed rate mortgages by up to 0.30%

Platform has reduced the rates on its fixed rate mainstream mortgages by up to 0.30%.

The move further signals the commitment of The Co-operative Bank's dedicated intermediary mortgage lender to the residential mortgage market and the intermediary sector.

Product highlights include an 85% LTV, 2 year fixed rate mortgage with no arrangement fee at 3.90% - which is a 0.21% reduction on the previous rate. Borrowers looking to take out products for a slightly longer term can choose from a 3 year fixed rate at 4.25% (previously 4.45%) or a 5 year fixed rate at 4.49% (previously 4.79%) with the same terms.

Platform has also launched a brand new 2 year fixed rate product with rates from 2.55%, with a £950 arrangement fee.

Whilst concentrating on mainstream mortgage lending, Platform continues to lend to the buy to let market and has reduced rates in this range by up to 0.90%, with 2 year fixed rates starting from 3.49% at 60% LTV with a £2450 fee or 3.99% with a £950 fee.

James Hillon, Head of Mortgages at the Co-operative Bank, comments: "We hope that the rate reductions across both out mainstream and buy to let ranges enable brokers to offer a wide range of competitive products to their customers.

"This is a further commitment from Platform to the intermediary sector and mainstream mortgage market in 2013, where we will continue to develop a range of products that enable brokers to meet the needs of their customers."

All mainstream remortgages benefit from free valuation and free standard legal fees, whilst house purchases come with a free valuation.