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Platform launches record low two-year fixed rate

Written by: Hannah Uttley

Platform has cut its two-year fixed rate from its previous deal of 1.64% to 1.59% for loans up to 60% loan-to-value (LTV) with an arrangement fee of £999.

It has also made further reductions of up to 0.40% across its residential range of two, three and five-year fixes.

The new record-low rate offered by the intermediary mortgage lender of The Co-operative Bank comes with a range of features including £250 cashback, free standard valuation for remortgagers and purchasers, plus free legals for remortgagers.

Stuart Beattie, head of mortgages at Platform, said: “We started the year with Platform’s lowest ever two-year fixed rate and now we’ve made our lowest rate even lower. We are committed to keeping a constant eye on the market to ensure we continue to offer a great choice of competitive products to brokers and their clients.”

Other changes to Platform’s range include:

– Five-year fixed rate for loans up to 80% LTV reduced by 0.40% to 3.19% (from 3.59%).

– Residential three-year fixes now start from 2.09% for loans up to 60% LTV (reduced from 2.19%).

– Residential five-year fixes now start from 2.49% for loans up to 60% LTV (reduced from 2.59%).

– Further reductions across two-year fixes on rates up to 85% LTV.

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