Platform cuts buy-to-let rates

Platform has reduced rates on its buy-to-let mortgage range by up to 0.10%.

Highlights include two year fixed rates starting from 2.24% at 60% LTV with a £1,999 fee.

It is also offering three and five-year fixed rates starting from 2.79% and 3.34% respectively, also to 60% LTV with a £1,999 fee.

Platform, the intermediary lender of The Co-operative Bank, is also reducing rates on higher-LTV bands and mortgage deals with either £999 or no fee options.

Stuart Beattie, head of mortgages at Platform, said: “With the continued demand we are seeing for buy-to-let mortgages, we are delighted to offer brokers these new reduced rates from our Platform mortgage range.

“Supporting brokers and growing our mortgage business is a key part of our strategy and we remain committed to offering competitive deals, providing great quality products and services, to both brokers and their clients.”

New buy-to-let fixed rates:

Two-year fixed rates reduced by 0.10%:

£1,999 fee option starts from 2.24% at 60% LTV

£999 fee option starts from 2.44% at 60% LTV

£0 fee option starts from 2.99% at 60% LTV

Three-year fixed rates reduced by 0.05%:

£1,999 fee option starts from 2.79% at 60% LTV

£999 fee option starts from 3.04% at 60% LTV

£0 fee option starts from 3.74% at 60% LTV

Five-year fixed rates reduced by 0.10%:

£1,999 fee option starts from 3.34% at 60% LTV

£999 fee option starts from 3.54% at 60% LTV

£0 fee option starts from 4.09% at 60% LTV.

Platform also offers buy-to-let rates on mortgages up to 65%, 70% and 75% LTV.

All rates come with free legals for remortgagers. A cashback of £250 and £500 is also available on selected rates. Maximum loan value is £350,000.

As part of the new broker range, mainstream two and five year fixed rates have seen small increases of 0.05% as Platform re-aligns these deals with the market.

Mainstream two year fixed rates now start from 1.39% at 60% LTV with a £1,499 fee and mainstream five-year fixed rates now start from 2.44%, also at 60% LTV with a £1,499 fee.