Platform brings out new products; increases switching rates | Mortgage Strategy

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Platform is bringing out a host of new products while increasing rates on some of its product transfers.

New products include a mainstream purchase mortgage at 60 per cent LTV and 90 per cent LTV on a three-year fix with £1,499 fee.

It has also re-introduced its two-year fixes starting at 1.25 per cent and its three-year fixes started at 1.45 per cent, all with £999 fees.

For buy-to-let new business, Platform’s two-year fixes starting at 1.44 per cent and five-year fixes starting at 1.84 per cent have been reissued. Both command a £1,999 fee.

The intermediary arm of the Co-operative Bank is also bringing up fees for its product switches.

For mainstream products these include raises of up to 0.06 per cent on two-year fixes and of up to 0.13 per cent for three-year fixes.

Additionally, five-year fixes will receive rate increases of up to 0.13 per cent.

BTL product switches are receiving larger rate rises – from 0.10 per cent for 60 per cent LTV five-year fixes to 0.23 per cent for 60 per cent LTV two-year fixes.

As well as this, the BTL 60 per cent LTV two-year fix with £1,499 fee is having its rate reduced by 0.05 per cent.


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