The offering is a 60% loan-to-value (LTV) 2-year fix at 0.79%, with a £1,499 fee.

Other notable reductions to Platform products include a 90% LTV 2-year fix cut to 1.97%, 85% LTV 2-year fix reduced to 1.61%, and 90% LTV 5-year fix decreased to 2.61%. All three offerings include £250 cashback.

Fred Sharp, director of mortgage distribution at The Co-operative Bank, said: “We continue to review our product range to ensure that we’re offering the most competitive rates and best value mortgage options for our broker partners who are still working tirelessly to support the demand from homebuyers and those looking to make the most of this low mortgage rate environment.

“We continue to make changes across our product offering to ensure we have great options available for a range of buyer profiles with cashback of up to £1,000 available on select mortgages.”