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Co-operative denies plans to scrap Platform

The Co-operative Bank has denied that it has any plans to close its intermediary lender Platform.

Rumours are rife that the Platform brand could be scrapped by the end of the year, but a spokesman for the bank says this is not the case.

He says: “The Co-operative Bank remains absolutely committed to the intermediary market.

“We will continue to offer mortgage intermediary lending via Platform and have no plans to change that.”

He added that the lender will continue to review its approach to the mortgage market on an ongoing basis to ensure that it is best positioned to support needs of customers and intermediaries.

In February, the Co-operative Bank announced that it had placed 80 staff in consultation at Platform.

The bank is closing Platform’s London office in Canary Wharf on June 27 and relocating the departments to other locations, primarily in Manchester.

It could not comment as to how many staff have been made redundant as a result of the consultation.

 

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