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Platform launches remortgage deals at 90 per cent LTV

 

  • Re-mortgages now available up to 90 per cent LTV
  • Buy to Let five year fixed rates reduced by up to 0.30 per cent

 

Platform, the intermediary lender of The Co-operative Bank, has launched a range of re-mortgage deals available at 90 per cent loan to value (LTV) for brokers.

 

For the first time, brokers will be able to offer 90 per cent LTV deals for those looking to re-mortgage with a low deposit. The two year fixed rate deals start from 2.29 per cent with £1499 fee, 2.49 per cent with £999 fee and 2.94 per cent with no fee - all with a 90 per cent LTV.

 

In addition, rates have reduced across two, three and five year fixed rate deals and are available with a range of fee options, starting from:

 

• 2 Year Fixed rates from 1.49% at 60 per cent LTV with a £1,499 arrangement fee

• 3 Year Fixed rates from 1.89% at 60 per cent LTV with a £1,499 arrangement fee

• 5 Year Fixed rates from 2.34% at 60 per cent LTV with a £999 arrangement fee

• 2 Year Tracker rates from 1.44% at 60 per cent LTV with a £999 arrangement fee

 

Platform has also lowered rates across its two, three and five year Buy to Let products with a wide range of deposit and fee options. Most notably, the five year fixed rate options have reduced by up to 0.30 per cent. Rates start from for 3.04 per cent with 60 per cent LTV with £1,999 fee. Further cuts include two and three year fixed rates being reduced by up to 0.20 per cent and two year tracker deals reduced by up to 0.30 per cent.

 

Highlights of the new Buy to Let range include:

• Buy to Let 2 year fixed rates from 1.99% at 60 per cent LTV with a £1,999 fee 

• Buy to Let 3 year fixed rates from 2.49% at 60 per cent LTV with a £1,999 fee 

• Buy to Let 5 year fixed rates from 3.04% at 60 per cent LTV with a £1,999 fee 

• Buy to Let 2 year tracker rates from 1.74% at 60 per cent LTV with a £1,999 fee 

 

Commenting on the new deals for brokers, Stuart Beattie, Head of Mortgages at Platform, said: “We are delighted to be able to extend our product range and offer brokers 90 per cent deals for re-mortgages. Supporting brokers and growing our mortgage business is a key part of our strategy."

 

“In addition, the significant changes to the Buy to Let range, allows us to remain competitive and ensure brokers are able to offer a variety of deals for a wide range of purchasers, as well as for those looking to re-mortgage.”

 

Platform offers LTV bands of 60 per cent, 70 per cent, 75 per cent, 80 per cent, 85 per cent and 90 per cent on selected products. All Mainstream deals come with a free standard valuation for re-mortgagers and purchasers, plus free legals for remortgagers on both Mainstream and Buy to Let.  Cashback amounts of £250 or £500 are available on selected products.

 

-Ends-

Rates correct as at 9am on Monday 1st February 2016.

 

For further information contact:

Ailish McDonnell
The Co-operative Bank Press Office
Email: ailish.mcdonnell@cfs.coop
Telephone: 0161 201 6315

 

Nicki Parry
The Co-operative Bank Press Office
Email: mailto:karen.holtorp@cfs.coop
Telephone: 0161 201 1590

 

About The Co-operative Bank

The Co-operative Bank plc provides a full range of banking products and services to almost 5 million retail and SME (Small and Medium Sized Enterprises) customers.  The Bank is committed to values and ethics in line with the principles of the co-operative movement.

 

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