Platform cuts interest rates on some Help to Buy mortgages

Michael Lloyd

July 6, 2018

Platform; the intermediary mortgage brand of The Co-operative Bank, has reduced the interest on some Help to Buy mortgages.

Highlights of the changes being made include reductions in interest rates of select 2-year fixed rate mortgages by up to 0.05% and reductions to interest rates of 5-year fixed rate mortgages by up to 0.10%.

Some of the best buy deals include a 2.14% 5-year fixed rate mortgage at 70% LTV with a £999 arrangement fee and a a 2.14% 5-year fixed rate mortgage at 75% LTV with a £999 arrangement fee.

There’s also two 5-year deals with no arrangement fee which stand at 2.39% to 70% LTV and 2.39% to 75% LTV.

Paul Norcott, head of mortgages and insurance at The Co-operative Bank, said: “At Platform we’re continuing to support the first-time buyer market by reducing select interest rates within our already competitive Help to Buy range.

“We are working with more and more broker partners as they look for the best value deal for their clients looking to buy their first home and we will continue to support and service brokers looking to place a Help to Buy mortgage with Platform.”

Adhering to the government Help to Buy scheme terms and conditions as standard, the Platform Help to Buy range is available up to a maximum 75% LTV and over a maximum term of 40 years for both first-time buyers and homeowners.

All of Platform’s Help to Buy mortgages are available with £500 cashback and free mortgage valuation.

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