Platform is making another cut to its lowest ever two-year fix it launched last December.
The intermediary mortgage lender of The Co-operative Bank reduced its residential two-year fixed rate to 1.59 per cent for loans up to 60 per cent loan-to-value. The arrangement fee is £999 and it comes with a range of features offered on the majority of Platform’s products, including a £250 cashback, free standard valuation for remortgagers and purchasers, plus free legals for remortgagers.
“We started the year with Platform’s lowest ever 2 year fixed rate, and now we’ve made our lowest rate even lower. We are committed to keeping a constant eye on the market to ensure we continue to offer a great choice of competitive products to brokers and their clients,” Stuart Beattie, head of mortgages at Platform, said.
The lender has also made further cuts to its two-year fixed rate range for products up to 85 per cent LTV.
Other reductions include:
|
Product |
LTV |
NEW rate |
Old rate |
| 5-year fix |
up to 80% |
3.19% |
3.59% |
| 5-year fix |
up to 60% |
2.49% |
2.59% |
| 3-year fix |
up to 60% |
2.09% |
2.19% |
Platform launched its lowest ever two-year fixed rate of 1.64 per cent in the beginning of December 2014, responding to market demand. The rate then came with £999 arrangement fee, £250 cashback and with a free standard valuation.
