Platform is hiking rates on its 90 per cent loan-to-value deals by 50 basis points on Wednesday.

The intermediary arm of Co-operative Bank has emailed brokers today to let them know about a number of rate changes.

The lender is relaunching its mainstream and buy-to-let mortgage ranges for both new business and product transfers.

Platform will be withdrawing its current deals at 5pm tomorrow Tuesday July 14.

New product codes will be issued and end dates extended to the last day of November.

For new customers in its mainstream lending range:

• Platform will be increasing the rate on its five-year fixed rate at 90 per cent loan-to-value with no fee by 0.3 percentage points.
• The lender is reintroducing two and five-year fixed rates between 60 and 85 per cent LTV with a £999 fee.
• Selected fixed rates will increase by up to 0.2 percentage points.

For existing mainstream borrowers looking to switch products:

• All 90 per cent LTV products increased by 0.5 percentage points.
• Increases of up to 0.15 points on fixed rates between 75 and 85 per cent LTV.