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Platform launches record low fixed rate
The Co-operative Bank subsidiary deals exclusively through brokers, and this mortgage is the lowest fixed deal ever through that channel
The vast majority of mortgages are arranged through mortgage intermediaries, and broker-only lender Platform has now launched the lowest-ever fixed rate deal through that route, for borrowers with a 10% deposit.
The two-year fixed rate mortgage at 2.24% is available up to 90% loan to value and comes with a £1,499 arrangement fee.
The deal is part of a new range of mortgages from Platform, designed specifically for those with just 10% upfront. They include:
- Two year fixed rates at 90% from 2.24% with a £1,499 arrangement fee
- Three year fixed rates at 90% from 1.99% with a £999 arrangement fee
- Five year fixed rates at 90% from 2.44% with a £1,499 arrangement fee
- Two year tracker rates at 905 from 1.44% with a £999 arrangement fee.
Charlotte Nelson from Moneyfacts.co.uk said: “This 2.24% deal is the lowest two-year fixed rate mortgage at 90% loan-to-value on record that Moneyfacts.co.uk has seen from an intermediary. This deal is likely to be a popular choice for any borrower with a modest 10% deposit, and is likely to be a cost-effective option for many.”
