Platform launches new BTL products

The Co-operative Bank’s dedicated intermediary mortgage lender has introduced new fixed and tracker deals as part of its focus to increase Buy-to-Let lending.

The new Buy to Let products are:

• 2 year fixed rates starting from 3.69%
• 2 year fixed rates with 1% cashback starting from 4.69%
• 4 year fixed rates with 1% cashback starting from 5.09%
• 1 year tracker with rates starting from 3.59%
• 2 year tracker with rates starting from 3.09%

Each product comes with a free valuation and standard legal fees for remortgages. There is also a non-refundable administration fee of £89.

Platform has also increased its range of Options products with a new 3 year tracker from 4.19%. These offer no early repayment charges, allowing borrowers the flexibility to change their product at any time, and make overpayments without penalty.

It has also launched the following new residential products:

• 2 year fixed rates at 80% and 85% LTV with rates from 4.09%
• 2 Year Options tracker with rates from 2.39%

Free valuation and standard legal fees are available on these products for remortgages.

Lee Gladwell, business development director at Platform said: “These new cashback products broaden our buy-to-let proposition and give intermediaries even more choice to offer their clients.

“We have launched these in direct response to broker feedback that has told us they are the type of offers the market wants.

“We've also extended our Options range which allow borrowers to switch products without penalty should their circumstances change without paying early repayment charges.”