Platform reduces mainstream mortgage rates

Platform, the intermediary mortgage specialist of The Co-operative Bank, has reduced rates in its range on fixed and tracker deals. These are:

2 Year fixed rates from 3.59 per cent
2 Year tracker products from 2.69 per cent

Platform has also pledged not to increase rates on any of its tracker products until The Monetary Policy Committee decides to increase the Bank Base Rate above one per cent.

All the new rate mainstream mortgages come with free valuation and free legal fees for remortgages and are available via Platform's panel of intermediary partners with an arrangement fee of £855.

Lee Gladwell, Director of Business Development at Platform, said: "This reduction in rates across our mainstream range is good news for intermediaries, as is our pledge not to increase our tracker rate until base rate reaches one per cent.

"Platform is striving to develop a dedicated intermediary mortgage business that puts IFAs and consumers at the heart of our product and service proposition, enabling them to deliver a fair and personal service. "

Following the merger between Britannia Building Society and The Co-operative Financial Services in August 2009, Platform is now the intermediary lender of The Co-operative Bank.