Platform introduces

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Platform, the the intermediary brand of The Co-operative Bank, has launched a new £1,000 cashback offer on selected mortgage deals.

This comes as part of a product revamp, which has seen the bank re-introduce mortgage deals at 80 and 90 per cent LTV in recent weeks. These higher loan-to-value mortgages will qualify for this new cashback deal — the highest rate the bank has ever offered.

The new range is available from 30 November and includes: 

  • 2 year fix at 3.74 per cent (90 per cent LTV) with £0 fee, including cashback of £1000
  • 2 year fixe at 3.09 per cent (85 per cent LTV) with £0 fee, including cashback of £1000
  • 2 year fix at 2.49 per cent (80 per cent LTV) with £0 fee, including cashback of £1000
  • 5 year fixe at 3.79 per cent (90 per cent LTV) with £0 fee, including cashback of £1000
  • 5 year fix  at 3.14 per cent (85 per cent LTV) with £0 fee, including cashback of £1000

Platform is also changing its criteria from this date, to allow gifted deposits, provided the loan amount does not exceed £500,000. Previously it had stipulated that first-time buyers had to be employed for a minimum of 6 months prior to application, now they will just need to meet the standard criteria of being in permanent employment.

Platform, head of intermediary business Fred Sharp says that this criteria change has been made in response to broker feedback. “This is a good example of how we are committed to listening to our broker partners, and can work together to improve the experience of their clients, in this case specifically, first time buyers who now have better access to our mortgage range.

“As well as working on our product offering we have also made several enhancements to our processing capability and we have increased capacity within our operational teams. 

“This enables us to provide both brokers and their clients with a high level of service. We are now assessing new applications on the day of receipt and to help us support this level of service.”


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