• From Monday 22 June 2020 Platform’s Help to Buy mortgage range will be available to brokers.
  • 85% LTV mortgages are also being reintroduced for those looking for a mortgage in England.
  • All fixed rate mortgages for house purchases will be reduced from Monday 22 June
    by up to 0.20 percentage points

Platform, the intermediary mortgage brand of The Co-operative Bank, is reintroducing its Help to Buy mortgage range and also making mortgages of up to 85% LTV available for those looking for a mortgage in England from Monday 22 June 2020.

As the ability to carry out physical valuations is restricted in other parts of the UK, those looking for a mortgage for a property in Scotland or Wales are able to apply for mortgages up to 75% LTV for purchases and up to 80% LTV for remortgages with Platform from Monday.

Commenting on the reintroduction of mortgage products announced by Platform today, Fred Sharp, Head of Intermediary Business said,

 

“We are continuing to support our broker partners find the right products and best value deals for their clients as they start to get their aspirations of owning a home back on track. Help to Buy is an important part of our product range and we’re glad to have this available from Monday as well as increasing our available mortgages up to 85% LTV for those looking to purchase a house in England.”

As well as reintroducing mortgage products back into the range, Platform Is also reducing all fixed rate mortgages for house purchases by up to 0.20 percentage points, all go forward rates are detailed on the Platform website and will be available for applications from Monday 22 June 2020.

Highlights of Platform’s mortgage range include:

1.17 per cent two year fixed rate at 60% LTV with a £999 fee and £250 cashback available

1.54 per cent five year fixed rate at 75% LTV with a £999 fee with £250 cashback available

1.44 per cent two year fixed rate at 80% LTV with a £999 fee with £250 cashback available

Commenting on the reduction to fixed rate mortgages Carolyne Gregory, Head of Retail Lending said:

“At Platform we are committed to helping as many people as we can purchase their first home while also supporting homeowners take their next step on the property ladder or to save money on their monthly mortgage payment. . The changes announced today show we are almost back to offering our full range of products and with an across the board reduction to our fixed rate mortgages for house purchases, we are very much open for business.

“We are continuing to monitor the wider market to ensure our remortgage and product switch options remain competitive as we understand that finding the right deal can make a big difference to households navigating a challenging economic landscape. We will support our mortgage customers to find the right mortgage option for their circumstances and their financial situation.”

-Ends-

Notes to Editors:

Mortgages that make a difference – in partnership with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank – the only UK high street bank with a customer led ethical policy. The Co-operative Bank is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

For further information please contact:

Nicki Parry

The Co-operative Bank

Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk

 

About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used.  Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.