Platform 'aiming to offer cheap mortgage rates'

Platform - the intermediary mortgage specialist of The Co-operative Bank - has reduced the rates on both its fixed and tracker deals.

The lender is now offering two-year fixed rates from 3.59 per cent and two-year trackers from 2.69 per cent.

In a boost to homeowners seeking cheap mortgage rates, Platform has also vowed to freeze the price of its tracker deals until the Bank of England raises its base rate from 0.5 per cent.

Interest rates how now remained at this historically low level for 11 consecutive months.

Lee Gladwell, director of business development at Platform, said: "This reduction in rates across our mainstream range is good news for intermediaries, as is our pledge not to increase our tracker rate until base rate reaches one per cent.

"Platform is striving to develop a dedicated intermediary mortgage business that puts advisers and consumers at the heart of our product and service proposition," he commented.

Earlier this week, it was reported that the Co-operative Financial Services had reduced its mortgage rates by up to 0.55 per cent.

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2010-02-10 13:32:00 © Moneyextra.com