Platform offers reductions to residential mortgage rates

houseline181Platform has boosted its mainstream mortgage offering with reductions of up to 0.12% across its fixed and tracker mortgage rates.

As part of The Co-operative Bank’s appetite to lend competitively through the intermediary sector, product highlights now on offer (from 1 March 2013) across the Platform residential mortgage range include 2 year fixes from 2.29% at 60% LTV and a 75% LTV option at 2.60%. In addition, the lender is now also offering a 5 year fix at 3.09% for borrowing at 75% LTV. All three products come with a £950 fee.

Helping to give brokers a range of additional incentives to offer their customers,
Platform has also extended the offer of free valuations across its full residential product range. In addition to remortgage customers, brokers can now also offer home purchase customers a free first valuation. The intermediary lender also continues to offer £250 Cashback on selected products.

James Hillon, Head of Mortgages at The Co-operative Banking Group, comments: “We’re continuing to support brokers both through further reductions to our rates and also by increasing the incentives on offer with our mortgages.”

“This we hope will help to boost the broker toolbox, giving them further reductions and incentives to pass on directly to their customers.”

All remortgages benefit from free valuation and free standard legal fees.

 

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Mainstream – Fixed Rate
60% LTV70% LTV75% LTV80% LTV85% LTVArrangement Fee
2 year fixed2.29%2.39%2.60%3.15%n/a£950
2 year fixed2.49%2.59%2.85%3.30%n/a£550
2 year fixed2.79%2.89%3.25%3.69%3.90%£0
3 year fixed2.69%2.79%2.89%3.49%n/a£950
3 year fixed2.99%3.05%3.29%3.89%4.10%£0
5 year fixed2.99%3.05%3.09%3.79%n/a£950
5 year fixed3.09%3.15%3.25%3.89%n/a£550
5 year fixed3.19%3.28%3.75%4.09%4.35%£0
Mainstream – Tracker Rate
60% LTV70% LTV75% LTV80% LTV85% LTVArrangement Fee
2 year Tracker2.19%
(BBR +1.69%)2.29%
(BBR + 1.79%)2.50% (BBR + 2.00%)3.00% (BBR + 2.50%)n/a£950
2.64% (BBR + 2.14%)2.74% (BBR + 2.24%)3.15% (BBR + 2.65%)3.54% (BBR + 3.04%)3.75% (BBR + 3.25%)£0
Mainstream – Fixed Rate Cash back reductions
LTV
65%75%80%CashbackArrangement feeHouse purchase/ Remortgage
2 year fixed2.39%2.69%3.19%£250£950Remortgage / Purchase
3 year fixed2.74%2.99%3.54%£250£950Remortgage / Purchase
5 year 
fixed 3.04%3.15% 3.84% £250£950 Remortgage / Purchase
Mainstream – Tracker Cash back reductions
LTV
60%70%75%80%CashbackArrangement feeHouse purchase/ Remortgage
2 year fixed 2.44% (BBR + 1.94%)2.54% (BBR + 2.04%)2.75% (BBR + 2.25%)3.20% (BBR + 2.70%)£500£950Remortgage / Purchase

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