"The rising Base Rate environment remains a challenge for the mortgage market and as a lender we need to balance what we’re offering with the movements made centrally."
Platform, the intermediary mortgage brand of The Co-operative Bank, has launched a new product range which includes a 60% LTV five-year fixed rate at 3.75%, currently the lowest rate available on the market.
The five-year fix comes with a with a £1,999 fee and £250 cashback on a minimum loan size of £400,000.
The launch also includes reductions on two and five-year fixed rates of up to 0.34% and the introduction of a fee-free two-year tracker product.
Among the new products is a five-year fixed rate at 3.85% at 60% LTV with a £1,499 fee. Also available is a five-year fix at 80% LTV with a rate of 4.15%, which comes with a £1,499 fee.
Two-year fixed rates have lowered to 4.62% at 85% LTV with a £999 fee and 5.14% at 90% LTV fee-free.
All products offer £250 cashback.
Darrell Evans, chief commercial officer at The Co-operative Bank, said: “We have been carefully reviewing our range of on sale mortgages since the start of 2023 and we are keen to support homeowners to get the best possible deal on their mortgage which is why we’ve announced competitive changes to our range that will launch on Monday.
"The rising Base Rate environment remains a challenge for the mortgage market and as a lender we need to balance what we’re offering with the movements made centrally. We’ll continue to keep our range in review and offer good value deals to our broker partners who are working hard to support their customers.”
