Intermediary lender Platform has launched its lowest ever residential two-year fixed rate mortgage at 1.64%.

The product is available for loans up to 60% loan-to-value (LTV) and comes with £250 cashback, free standard valuation and a £999 arrangement fee.

Platform has also revealed a range of rate reductions of up to 0.40% across its residential fixed rate mortgages, with three and five-year residential fixes now starting from 2.19% and 2.59% (reduced from 2.59% and 2.94% respectively), for loans up to 60% LTV.

Those with a higher LTV are offered two, three and five year fixes at 90% LTV starting from 3.49%, 4.14% and 4.39% (reduced from 3.79%, 4.54% and 4.74% respectively). There is a wide range of LTVs, fees and cashback options across the range for borrowers to choose from.

Stuart Beattie, head of mortgages at The Co-operative Bank, Platform’s owner, said: “These latest mortgage rate changes reflect our continued commitment to providing great quality products and services to both brokers and their clients. The breadth of choice available, in terms of products and features, ensures Platform can meet most borrowers’ mortgages needs.”