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TODAY'S OTHER NEWS

Platform has launched a new mortgage range for brokers and with cuts to selected fixed rate mortgages of up to 0.25%.

The new rates include a two-year fixed rate charging 1.24% up to 60% LTV, with an arrangement fee of £1,499.

Fee-free options include five year fixes at 3.24% and 3.94% for loans up to 85% and 90% LTV.

With no arrangement fee, it says these should prove attractive to first-time buyers with smaller deposits.

Platform, the intermediary lender of The Co-operative Bank, says the new range underlines its support for the intermediary mortgage market.

Stuart Beattie, head of mortgages at Platform, said: “Our latest round of rate reductions maintains our commitment to support the intermediary market by offering competitive mortgage products.

“Our new range should have something for all borrowers whatever their budget, with market-leading deals available for borrowers with large or small deposits, and a wide range of fee and fee-free options.”

Platform offers LTV bands of 60%, 70%, 75%, 80% and 85% on selected products.

All deals come with a free standard valuation for remortgagers and purchasers, plus free legals for remortgagers. 

A cashback of £250 is also available on selected products.

Platform has also revised its five-year fixes at 60% LTV with increases of up to 0.10%.

Two-year fixes:

LTV

Fee

New Rate

Old Rate

60%

£1,499

1.24%

1.29%

£999

1.39%

1.49%

70%

£1,499

1.44%

1.49%

£999

1.64%

1.69%

£0

1.99%

2.04%

85%

£0

2.39%

2.49%

90%

£0

3.49%

3.64%

Three-year fixes: 

LTV

Fee

New Rate

Old Rate

85%

£0

2.89%

2.99%

90%

£0

3.84%

3.99%

Five-year fixes:

LTV

Fee

New Rate

Old Rate

60%

£1,499

2.29%

2.19%

£999

2.39%

2.29%

70%

£1,499

2.44%

2.49%

£999

2.54%

2.59%

80%

£1,499

2.74%

2.84%

£999

2.89%

2.99%

£0

2.99%

3.09%

85%

£0

3.24%

3.44%

90%

£0

3.94%

4.19%

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