Platform announces rate cuts on 95% products

Platform has announced that it has cut rates on all of its 95 per cent LTV products.

As well as this, the announcement also includes cuts on select two- and five-year fix mortgages at 60 per cent and 90 per cent LTVs.

All the reductions consist of 0.10 per cent cuts.

The 95 per cent LTV mortgage range includes a two-year fix at 3.19 per cent and a five-year fix at 3.54 per cent. Both products do not include a fee.

The 95 per cent LTV range comes with £500 cashback and free standard valuation for purchases.

Notable changes, outside of the 95 per cent LTV include a two-year 90 per cent LTV at a fixed rate of 2.14 per cent, and a five-year 90 per cent LTV, at 2.49 per cent.

Both products come without a fee and £250 cashback, free standard valuation for purchase and remortgage and free standard legals are available for remortgages.

The Co-operative Bank head of mortgages and insurance Paul Norcott says: “We’re pleased to be continuing to offer high LTV mortgage products, which will continue to benefit first time buyers who often struggle to raise the deposit needed to purchase their first home.

“We introduced new product ranges in 2018 which were in support of FTBs and this year we want to continue to offer deals to our broker partners, who are working with clients who want to take their first step on to the property ladder.”

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