The platform reduces high LTV rates; adds new fixes

Platform has made a number of cuts to its high-ratio mortgage products.

The middle arm of The Co-operative Bank has also reintroduced two-, three- and five-year fixes in the 60%-75% LTV range, which charge a fee of £999, and five-year fixes in the same range free of charge.

Rate cuts occur up to 25 basis points. The highlights are as follows:

  • Fixed rate of 90% LTV over two years with £999 fee and £250 reimbursement is now set at 1.72%
  • Fix for 95% LTV over two years with no fees and £250 cashback is now 2.56%
  • The 90% LTV fix over three years with no fees and £500 cashback is now 2.43%
  • Fix of 90% LTV over five years with no fees and £500 cash back is fixed at 2.43%
  • Five-year 90% LTV fix with £1,999 fee and £250 refund lowered to 2.14%

Mortgage Distribution Platform Director Fred Sharp says: “We have been carefully reviewing our range of mortgages on sale since the start of 2022 and are keen to support those who aspire to own their own home in the new year. and who have a lower proportion of deposit to finance their purchase.

“Following the Bank of England’s base rate hike to 0.25% so close to the end of last year, we are continuing to review the products we offer to our broker partners as we approach the next decision of the monetary policy committee on February 2.”

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