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Platform cuts BTL rates by up to 0.99%

The Co-operative Bank’s intermediary lender Platform is reducing rates on its buy-to-let mortgage range by up to 0.99 per cent.

The rate on a two-year tracker up to 60 per cent LTV has been cut by 0.99 per cent today, from 4.23 per cent to 3.24 per cent with a £2,450 fee. The rate on the same product with a £950 fee is 3.64 per cent.

Rates on the mainstream residential range have been cut by up to 0.59 per cent. The rate on a two-year tracker up to 60 per cent LTV is available at 2.25 per cent, down from 2.84 per cent, with a £950 fee.

Platform has also extended its £250 cashback offer to mainstream lending at 80 per cent LTV and above.

Co-operative Bank head of mortgages James Hillon says: “We are delighted to pass on these significant reductions in rates across mainstream and buy to let products to brokers helping them to grow their businesses and meet the needs of their customers.”

“We are committed to offering brokers a variety of products across our residential and buy to let mortgages and to give customers an extra incentive we have now also extended our £250 cashback offer to more products across the range.”

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