"Our new application system, Broker Portal, will allow both brokers and customers to benefit from more efficient technology"
Platform, the intermediary lender of The Co-operative Bank, has rebranded to become The Co-operative Bank for Intermediaries.
The rebrand is part of the Bank’s ongoing transformation and technology upgrade programme, which aims to simplify the application journey through a new system, Broker Portal.
The first new product launch includes a range of residential interest-only mortgages.
The Co-operative Bank for Intermediaries is also increasing the maximum loan size on buy-to-let products to £750,000, the maximum loan size at 95% LTV from £350,000 to £500,000, and the maximum loan size at 90% LTV from £500,000 to £600,000.
As part of the changes, the Bank's two-year tracker is being replaced with a lifetime tracker.
Fred Sharp, director of intermediary distribution at The Co-operative Bank, said: “Close alignment to The Co-operative Bank brand is important as we continue to strengthen our position as the original ethical bank and provide consumers with an ethical alternative.
"Our new application system, Broker Portal, will allow both brokers and customers to benefit from more efficient technology and will give us the flexibility to introduce new products and services, such as the residential interest-only mortgages launching today.”
