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Platform reduces rates and launches new buy-to-let products

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Platform has reduced its rates by up to 0.6 per cent and has launched a number of new buy-to-let products.

The Co-operative bank’s lending subsidiary has reduced its residential mortgage rates by up to 0.6 per cent and its buy-to-let products by up to 0.2 per cent.

It has also launched a new two-year semi-exclusive buy-to-let product. The rates are 4.59 per cent for a 60 per cent LTV loan, 4.99 per cent at 65 per cent LTV and 5.19 per cent at 70 per cent LTV. The arrangement fee is £950.

Platform has also launched a number of residential and buy-to-let tracker products  which do not charge borrowers an early repayment fee.

They include a two-year residential tracker at base rate plus 2.19 per cent and a buy-to-let full term tracker at base rate plus 4.99 per cent.

Platform business development director Lee Gladwell says: “Platform is committed to providing brokers with a competitive range of products for them to offer to clients and the reduction in rates across the range, alongside decreased fees demonstrates this.”

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