Platform reduces rates for borrowers with smaller deposits

Platform, the intermediary lender of The Co-operative Bank, has revised its mainstream mortgage range available to brokers.

Highlights include reductions of up to 0.15% on 2, 3 and 5 year fixed rates up to 80% LTV, available to both purchase and remortgage customers. Elsewhere, its 2 year fixed rate up to 90% LTV available for purchases only, has been reduced by up to 0.10%.

Stuart Beattie, Head of Mortgages at Platform, said: “We are constantly reviewing the market to ensure we remain competitive with a varied range of mortgages for brokers to offer to their clients.

“Our latest rate reductions, which are mainly focused on our 80% and 90% LTV mortgages, will make these rates particularly attractive to those borrowers with smaller deposits who are specifically looking for higher LTV deals.”

Platform’s rate reductions include:

Up to 80% LTV (for purchases and remortgages):

2 year fixed rate at 1.59% (reduced from 1.69%), with a £1,499 fee

2 year fixed rate at 1.74% (reduced from 1.89%), with a £999 fee

3 year fixed rate at 2.29% (reduced from 2.44%) with a £999 fee

5 year fixed rate at 2.64% (reduced from 2.74%) with a £1,499 fee

5 year fixed rate at 2.79% (reduced from 2.89%) with a £999 fee

Up to 90% LTV (for purchases only):

2 year fixed rate at 3.39% (reduced from 3.49%) with a £999 fee

Fee free deals remain unchanged, while a small number of lower LTV rates have seen increases between 0.05% - 0.15% as Platform re-aligns these deals with the market.

All deals come with a free standard valuation for remortgagers and purchasers, plus free legals for remortgagers. A £250 cashback is also available on selected products.

For more information, visit platform.co.uk.