Platform is repricing its products with both rate reductions and increases across its range.

The lender has also brought back buy-to-let deals up to 60 per cent loan-to-value now that it is able to resume physical valuations in England following the easing of restrictions.

The new rates will be available on Wednesday, while applications for current products should be submitted by 5pm tomorrow at the latest.

For new customers, Platform is cutting selected fixed rates across its residential range by up to 10 basis points.

It will only accept applications for purchase up to 75 per cent LTV.

Buy-to-let rates for purchase and remortgage have been reintroduced at up to 60 per cent LTV.

The lender is not currently accepting any new-build properties for either residential or buy-to-let and it is not offering any Help to Buy deals or tracker mortgages.

For existing residential borrowers looking to switch rates, it has reduced all its five and three year fixed rates at 60 per cent LTV by 5bps. 

However, it is increasing all fixed rates at 90 per cent LTV by 10bps.

For existing buy-to-let borrowers, selected fixed rates at 65 to 75 per cent LTV are increasing by up to 10bps.

Head of intermediary business Fred Sharp says: “We are glad to reintroduce physical valuations in line with the guidance from today.

“Our focus over the short term will be to work through applications that are currently on hold as quickly and safely as possible.

“We will complete valuations in date order with the oldest applications being looked at first.

“We encourage our broker partners to advise us of any material changes to their clients’ circumstances, especially if the client no longer wants to proceed with the mortgage application, this will enable us to focus on the applications that are progressing.

“The safety of our customers and valuers remains our number one priority and valuations will involve a detailed safety assessment.

“We understand that some customers will not feel comfortable letting a valuer into the property at this time, where this is the case we will attempt a desktop valuation or place the valuation on hold where this option is not possible.”