Platform has cut select interest rates in its buy-to-let mortgage products with some options lowered by up to 0.10 percentage points.
Rates are as follows:
- Two year fixed rates from 1.79%;
- Three year fixed rates from 2.09%;
- Five year fixed rates from 2.09%;
- Two year tracker rates from 1.74%.
All terms are available up to 75% LTV and with a range of fee paying or fee free options.
Platform will also complete changes announced at the start of April 2019 in support of the move to no longer consider letting conditions that restricted landlords from letting to tenants in receipt of housing benefit. The final changes are taking place on May 19 2019. The change to remove the restrictive letting condition will be replicated across all lending brands of The Co-operative Bank.
Neil Wyatt, head of intermediary distribution at the Co-operative said: “We are making changes to the interest rates offered on our buy-to-let mortgages as we look to grow the share we have of this market. This comes at a time when we’re also completing the changes we announced from the start of April 2019 to no longer reference conditions that restrict landlords from letting to tenants in receipt of housing benefit.
“We’ve not considered the restrictive terms since the beginning of April 2019, but the final changes to remove this wording take place on 19 May 2019. We’re glad to have been able to remove this terminology from our lending processes and documents to the benefit or our landlords and prospective tenants.”