Lowest ever fixed rate with only a 10% deposit

Platform, the intermediary lender of The Co-operative Bank, has launched the lowest ever two year fixed rate deal at 90% LTV for house purchases, according to Moneyfacts.co.uk records.

The deal for intermediaries offers a two year fixed rate starting from 2.24% for a 10% deposit and £1,499 arrangement fee.

As well as this deal, Platform has also launched further 90% LTV mortgages. The range includes mortgage rates with a varying fee options; no-fee, £999 and £1,499, as well as cashback of £250.

Highlights of 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 90% 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

Stuart Beattie, Head of Mortgages at Platform, said:

“We are delighted to offer our lowest ever 90 per cent 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 added:

“This 2.24 per cent deal is the lowest two-year fixed rate mortgage at 90 per cent 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 per cent deposit, and is likely to be a cost-effective option for many.”

Courtesy of Financial Adviser

Posted on December 1, 2015 by Peter Marriott, in: Industry posts

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