Platform cuts mortgage rates

Platform, the Co-operative Bank's intermediary mortgage lender, has slashed mortgage rates on a range of its home loans in order to make them more affordable.

Mainstream mortgage rates have been reduced by up to 60 bps, while its Buy to Let portfolio has seen cuts of up to 20 bps.

As a result of the cuts, homebuyers can now get a two-year tracker with an LTV of up to 70 per cent with a rate of just 2.69 per cent, while a similar four-year deal offers 2.99 per cent with current base level rates.

Buy to let purchasers can meanwhile get a two-year fixed deal of 4.59 per cent on LTVs of 60 per cent.

"Platform is committed to providing brokers with a competitive range of products for them to offer to clients and the reduction in rates across the range, alongside decreased fees demonstrates this," Lee Gladwell, business development director at the organisation.

Nationwide has also reduced the mortgage rates on its 50 per cent LTV home loans.

Moneyextra.com recommends you take independent financial advice before acting on any article

Back

2011-06-08 13:02:01 © Moneyextra.com