Platform launches tracker mortgages and cuts rates

Platform has today launched a number of semi-exclusive mortgage products and has reduced rates and fees across its mainstream and buy-to-let mortgage ranges.

Its new deals include a buy-to-let full-term tracker at 4.99%, available up to 70% LTV, with an administration fee of £89 and an arrangement fee of £2,450.

The Co-operative Bank’s intermediary mortgage lender has also introduced a mainstream two-year tracker at 2.69% and a four-year tracker at 2.99%, both of which are available up to 70% LTV and come with an administration fee of £89 and an arrangement fee of £950.

In addition, Platform has cut mainstream rates by up to 0.60% and buy-to-let rates by up to 0.20%, and has reduced its non-refundable administration fee from £140 to £89.

Lee Gladwell, business development director at Platform, says the fee alteration was made in response to broker feedback at the firm’s recent Platform Live Events.

Nick Allen, product marketing manager at Platform, adds: “Platform is committed to providing brokers with a competitive range of products for them to offer to clients and the reduction in rates across the range, alongside decreased fees, demonstrates this.

“The mortgage market continues to be challenging, but we hope that the reduction in rates will help brokers to offer their clients a broad range of tailored mortgage products.”