Platform offers two-year fix at 1.64%

Platform, the Co-operative Bank’s intermediary mortgage lender, is launching its lowest ever residential two-year fixed rate mortgage at 1.64 per cent.

The new deal two-year fixed rate deal is available for loans up to 60 per cent loan-to-value and comes with £250 cashback, free standard valuation and a £999 arrangement fee.

It is included in a range of rate reductions of up to 0.4 per cent across residential fixed-rate mortgages, with three and five-year residential fixes now starting from 2.19 per cent and 2.59 per cent (reduced from 2.59 per cent and 2.94 per cent respectively), for loans up to 60 per cent LTV.

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All residential borrowers benefit from a free valuation and two, three and five-year fixes at 90 per cent LTV now start from 3.49 per cent, 4.14 per cent and 4.39 per cent having been reduced from 3.79 per cent, 4.54 per cent and 4.74 per cent respectively.

Stuart Beattie, head of mortgages at the Co-operative Bank, said: “These latest mortgage rate changes reflect our continued commitment to providing great quality products and services to both brokers and their clients.

“The breath of choice available, in terms of products and features, ensures Platform can meet most borrowers’ mortgages needs.”