Platform, the intermediary lender of The Cooperative Bank, has recently launched the lowest ever 2 year fixed rate deal for a 90% loan to value (LTV) for house purchases, according to figures released by Moneyfacts this week.
The new deal is available for intermediaries only and now offers a 2 year fixed rate starting from 2.24% for a 10% deposit, which comes with a £1,499 arrangement fee. As well as this, the lender has launched further 90% LTV mortgages, which includes rates with varying fee options. These are now ranging from £999 to £1,499 as well as a £250 cashback offer.
Other highlights of the latest releases from Platform fixed rate mortgages include 2 year fixed rates at 90% LTV, with rates from 2.24% with a £1,499 arrangement fee. Not only this, 3 year fixed rates at 60% LTV are now available from 1.99% with a £999 arrangement fee, and 5 year fixed rates at 90% LTV with a £1,499 arrangement fee now at 2.44%. 2 year tracker rates at 90% LTV now start at 1.44% with a £999 arrangement fee.
The new products added to Platform fixed rate mortgages mark the lender’s lowest ever 90% LTV rate, complementing the lender’s existing product range of competitive deals – enabling intermediaries to offer a wider range of products. The lender has claimed to be offering competitive rates all year round and will be looking towards a bright new year for intermediaries.
The 2.24% deal is currently the lowest 2 year fixed rate mortgage at 90% LTV on record from an intermediary. This is a great choice for any borrower with a modest 10% deposit, or equally a more cost-effective option for other residential or buy to let customers.
As far as fixed rates are concerned, Precise Mortgages has also reported this week that it will be extending all fixed rate end dates across residential and buy to let mortgages, while increasing the maximum loan size on Tier 1 core buy to let products to £2m at 60% LTV.