Platform expands mainstream range
The cashback incentive is available to both purchase and remortgage customers on 2, 3 and 5-year fixed rate products across a range of LTV bands offering customers an increased choice of features aimed at reducing the upfront costs of borrowing.
A 2-year fixed rate available up to 75% LTV with a £950 product fee and £250 cashback is priced at 2.89%, whilst the equivalent 5-year product is available at 3.33%.
Customers with a larger deposit can benefit from a 5-year fixed rate available up to 60% LTV with a £1,550 product fee and £250 cashback priced as low as 3.08%.
James Hillon, head of mortgages at The Co-operative Bank, said: “The new cashback products supplement the recent changes we’ve made to our mainstream range and emphasise the Co-operative Bank’s appetite to lend via the intermediary market via Platform.
“Rates continue to be competitive across the range, offering variety for customers with a range of deposits, with the added bonus of cashback. We hope that borrowers will be glad of the additional cash which they could put towards things such as solicitors fees, exit fees or simply towards new household items.”
All remortgages benefit from free valuation and free standard legal fees, whilst house purchases come with a free valuation.