Platform is to launch a range of 95% LTV mortgages on Monday (3 September).
The new range of 95% mortgages will be available to new Platform customers who are purchasing a residential property.
Platform 95% mortgages will be on offer over two, three or five year fixed rate terms, all with two fee options, and the maximum loan amount across the range at launch will be £350,000.
There are six mortgages in the new 95% LTV range with a five-year fixed rate mortgage at 3.49% with a £999 product fee. A five-year fixed rate mortgage at 3.74% is also available with no product fee.
All of the intermediary mortgage brand of the Co-operative Bank’s 95% LTV mortgages will be available with £500 cashback and the first standard valuation will be free for borrowers.
Paul Norcott, head of mortgages and insurance at The Co-operative Bank, said: “We’re pleased to be able to continue to support first time buyers and those who are finding it difficult to save a bigger deposit to buy a home.
“At a time when there is renewed focus on the difficulties people in the UK are facing to get onto the property ladder we hope that our new mortgage range will be a welcome addition to the market and our broker partners will be able to find a suitable option for their clients who need higher LTV mortgage options.
“Our team will be on hand to work with our broker partners to deliver this new product to market and will be able to answer any questions and provide further details.”
