Platform has launched what it claims to be the lowest ever two-year fixed rate deal at 90% loan to value (LTV) for house purchases.
The deal offers a two year fixed rate starting from 2.24% for a 10% deposit and £1,499 arrangement fee.
In addition, the intermediary lender of The Co-operative Bank has also launched further 90% LTV deals. The range includes mortgage rates with a varying fee options: no-fee, £999 and £1,499, as well as cashback of £250.
Products in the new mortgage range include:
- Two year fixed rates at 90% from 2.24% with a £1,499 arrangement fee
- Three year fixed rates at 60% from 1.99% with a £999 arrangement fee
- Five year fixed rates at 90% from 2.44% with a £1,499 arrangement fee
- Two year tracker rates at 90% from 1.44% with a £999 arrangement fee
Mortgage deals come with a free standard valuation for remortgages and purchasers, plus free legals for remortgages, a £250 cashback is also available on selected products.
Stuart Beattie, head of mortgages at Platform, said: “We are delighted to offer our lowest ever 90% LTV rate. This complements Platform’s existing range of competitive deals to intermediaries, enabling them to offer a range of products to brokers and their clients.
“As we come to the end of 2015 we are delighted to have continued to offer competitive rates all year round and look forward to an exciting 2016 for intermediaries.”
Charlotte Nelson from Moneyfacts.co.uk, said: “This 2.24% deal is the lowest two-year fixed rate mortgage at 90% loan-to-value on record that Moneyfacts.co.uk has seen from an intermediary.
“This deal is likely to be a popular choice for any borrower with a modest 10% deposit, and is likely to be a cost-effective option for many.”