Platform, the intermediary mortgage brand of The Co-operative Bank, is reintroducing its Help to Buy mortgages alongside a range of 85% LTV products from next week.
Additionally, all fixed rate purchase mortgages will be reduced by up to 0.20 percentage points.
New rates include a 1.17% two-year fix at 60% LTV, a 1.54% five-year fix at 75% LTV, and a 1.44% two-year fix at 80% LTV, all with a £999 fee with £250 cashback.
As the ability to carry out physical valuations is restricted in other parts of the UK, those looking for a mortgage for a property in Scotland or Wales are able to apply for mortgages up to 75% LTV for purchases and up to 80% LTV for remortgages with Platform from Monday.
Fred Sharp, head of intermediary business, said: “We are continuing to support our broker partners find the right products and best value deals for their clients as they start to get their aspirations of owning a home back on track. Help to Buy is an important part of our product range and we’re glad to have this available from Monday as well as increasing our available mortgages up to 85% LTV for those looking to purchase a house in England.”
Carolyne Gregory, head of retail lending, commented: “At Platform we are committed to helping as many people as we can purchase their first home while also supporting homeowners take their next step on the property ladder or to save money on their monthly mortgage payment. The changes announced today show we are almost back to offering our full range of products and with an across the board reduction to our fixed rate mortgages for house purchases, we are very much open for business.
“We are continuing to monitor the wider market to ensure our remortgage and product switch options remain competitive as we understand that finding the right deal can make a big difference to households navigating a challenging economic landscape. We will support our mortgage customers to find the right mortgage option for their circumstances and their financial situation.”
Source – Financial Reporter 19/6/20