Platform reintroduces 5-year 90% LTV deals
Platform, the intermediary mortgage brand of The Co-operative Bank, has reintroduced 5-year fixed rate 90% LTV products.
Notable relaunched offerings include the 90% LTV 5-year fix at 3.79%, and the 90% LTV 5-year fix at 3.99%.
The former deal includes a £999 fee and £250 cashback, while the latter offering does not have a fee and also boasts £250 cashback.
Carolyne Gregory, director of retail lending at The Co-operative Bank, said: “We are working hard to process existing applications and we have now taken the decision to reintroduce 90% LTV products back into our range as we know that there is a consumer demand for higher LTV mortgages.”
In addition, the lender has adjusted the LTV that its maximum income multiplier can be considered, which will now apply up to 75% LTV, down from 80% LTV.
Gregory added: “We have seen unprecedented volumes of mortgage applications in recent months and we are carefully managing the support and service we offer our customers.
“We are continuing to monitor the wider market and will keep our product offering and rates in review to ensure our new mortgage products, and our remortgage and product switch options remain competitive in what continues to be a challenging time for consumers.”