Platform relaunches 90% mortgages

Essex Home Finance
Platform, the intermediary mortgage brand of The Co-operative Bank, has announced it is reintroducing five year fixed rate 90% LTV mortgages.
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Platform, the intermediary mortgage brand of The Co-operative Bank, has announced it is reintroducing five year fixed rate 90% LTV mortgages.

Two products are available at the reintroduced 90% LTV: a five-year fixed rate at 3.79%, with a £999 fee, and a five-year fixed rate at 3.99% with a £0 fee. Both products have £250 cashback available.

As well as reintroducing mortgage products back into the range, Platform is also adjusting the LTV that its maximum income multiplier can be considered, it will now apply up to 75% LTV instead of up to 80% LTV previously.

Commenting on the reintroduction of mortgage products announced by Platform today, Carolyne Gregory, Director of Retail Lending at The Co-operative Bank said:

“We have seen unprecedented volumes of mortgage applications in recent months and we are carefully managing the support and service we offer our customers. We are working hard to process existing applications and we have now taken the decision to reintroduce 90% LTV products back into our range as we know that there is a consumer demand for higher LTV mortgages.

“We are continuing to monitor the wider market and will keep our product offering and rates in review to ensure our new mortgage products, and our remortgage and product switch options remain competitive in what continues to be a challenging time for consumers.”

Original Article from Financial Reporter 13/11/2020

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