News

Get information about the latest product updates, news and announcements


On Monday 26th October Platform will remove the £500,000 maximum loan limit to qualify for fees assisted remortgages. The only restriction that will remain in place is the exclusion of unencumbered properties as well as standard Platform LTV restrictions.

Where appropriate, our conveyancing partners will be able to utilise the England & Wales Land Registry E-Deed service for the fees assisted remortgage proposition, but in order for it to run smoothly it is critical that we receive a customer email address as part of the application process. Please ensure you include customer email addresses on the application form, where available, for both applicants so that they can benefit from this improved service.

Our conveyancing partner O’Neill Patient can also offer an online app to make the remortgage process easier providing the customer has an email address. The online app benefits include:

  • Completion of the questionnaire via the app (meaning client can receive this very quickly after instruction and can complete on the go rather than waiting to complete paper documentation)
  • Messaging service via the app to keep all messages and documents stored in one place
  • To upload and share additional documentation securely such as ID, Bank statements etc which can be taken as a photo and uploaded.
  • Full case milestone updates available showing progress of the transaction and information regarding what each step means.
    We hope you and your customers will benefit from this improvement to our fees assisted remortgage proposition.

Finally, to help your cases progress to offer as quickly and smoothly as possible, please check our website www.platform.co.uk where we have included some additional hints and tips.

Thanks for your support.

The Platform Team

Product Change

On Friday 23 October 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates extended to 31 January.

New Business

Mainstream

- 5 year fixed rate at 60% to 80% LTV increased by up to 0.13%

- New product codes issued for all products

- End dates extended to end January

Product Switch

Mainstream

- New product codes issued for all products

- End dates extended to end January

Buy to Let

- New product codes issued for all products

- End dates extended to end January

Help to Buy

- New product codes issued for all products

- End dates extended to end January

Product Change

On Friday 25 September 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates remain at 31 December.

New Business

Mainstream

- 5 year fixed rate products at 70% to 80% LTV with £999 fee increased by up to 0.33%

Buy to Let

- All new business Buy to Let products temporarily withdrawn

Help to Buy

- All new business Help to Buy products temporarily withdrawn

Product Switch

Mainstream

- 2, 3 and 5 year fixed rate products at 60% to 75% LTV reduced by up to 0.28%

- 2 year fixed rate products at 80% and 90% LTV increased by up to 0.16%

- 3 and 5 year fixed rate products at 80% LTV with £0 fee increased by 0.04%

- 3 and 5 year fixed rate products at 80% LTV with £1,249 fee reduced by 0.03%

- 3 and 5 year fixed rate products at 85% LTV reduced by 0.29%

Buy to Let

- New product codes issued for all products

Help to Buy

- New product codes issued for all products

Platform supports new fundraising event for homeless young people – as 78% of councils see increase in homelessness

We’re delighted to announce that as part of The Co-operative Bank, Platform will be supporting Centrepoint’s new flagship fundraising event, STAY:UP.

The mass participation event, which for 2020 replaces the charity’s long-running annual Sleep Out, asks participants to go just one night without sleep to raise awareness of both the challenge to homeless young people of having to go without sleep when they have nowhere safe to rest their head, but also to raise much needed funds to be used to help homeless young people across the UK.

Centrepoint estimates that over 100,000 young people in the UK were homeless, or at risk of homelessness, in 2018/19. Now, in the wake of the Coronavirus pandemic, Centrepoint research has revealed that 78% of local councils across England have seen an increase in homelessness* and there has been a 50% increase in calls to the Centrepoint Helpline from young people who are facing homelessness.

In addition to this, figures released by the Office for National Statistics (ONS) show that over the last quarter (May-July 2020), there has been a significant fall in the number of young people in employment. The number of people aged 16 to 24 years in employment decreased by 156,000 to 3.63 million, and this includes a record fall of 146,000 for those aged 18 to 24 years.

All donations raised by STAY:UP participants will go directly towards supporting homeless young people with safe and stable accommodation, the skills needed to live independently, support with their physical and mental health and access to training and education.

The new event challenges participants to stay up all night – between 8 am and 8 pm – on the night of 8 October. Participants can walk, game, bake or simply try to stay awake during a virtual content stream, that includes a performance from The Vamps, a cooking demo with Ching He Huang and much more.

Alongside participants’ own activity the charity will be sharing pictures, videos and insights throughout the night on Centrepoint’s Instagram profile, @CentrepointUK.

Platform and Co-operative Bank staff will be taking on physical challenges as well as staying up to help the charity to reach its £500,000 target for the event. Together with their customers, Platform and The Co-operative Bank have raised £1.5 million to support homeless young people since the start of the charity partnership in 2017. 

Darrell Evans, Managing Director, Retail Banking at The Co-operative Bank said: “The issue of youth homelessness in the UK was at crisis point even before the pandemic, and with the additional consequences of lockdown it’s clear that the impact on young people who were already struggling is significant and we may see the effects of that for a long time to come.

“It’s vital that we take as much action as we can now to try to counteract this. Some of these vulnerable young people aren’t always visible in our communities but they desperately need support services and opportunities for them to get education and training that might help keep them safe and have a better life in the future. We are committed to supporting this event and many of us at the Co-operative Bank will be taking part to raise much needed funds whilst also highlighting the struggles of homeless young people in the UK and what we can do to make a difference.”

 

Lucy Coleman, Centrepoint’s Senior Corporate Development Manager, said: “We’re immensely grateful for the ongoing support from The Co-operative Bank. Coronavirus has perhaps been the biggest challenge Centrepoint has ever faced, and we are so grateful for the support we have received that allows us to continue to help thousands of homeless young people across the UK.

“Moving to a virtual event is an example of just one way we have adapted our partnership delivery to ensure we can continue to support vulnerable young people in our services. All donations will allow us to continue to deliver the most effective, practical, and emotional support to homeless young people who need us now more than ever.”

 

To find out more about Centrepoint’s STAY:UP event and get involved, please visit: https://stayup.centrepoint.org.uk/

 

*ONS stats released 15.09.2020: Click here

 

About Centrepoint

  • Centrepoint is the leading charity for homeless young people aged 16-25.
  • Centrepoint supports over 15,000 homeless young people a year.
  • It provides accommodation-based and floating support services in London, Yorkshire, Manchester and the North East. It also runs the Centrepoint Helpline.
  • The Freephone Centrepoint Helpline is for any young person aged 16-25 who is worried about homelessness. It is open Monday to Friday from 9am to 5pm. The Centrepoint Helpline number is: 0808 800 0661.

To get involved sign up here.

Product Change

On Thursday 10 September 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates remain at 31 December.

New Business

Mainstream

- Temporary withdrawal of 2 and 3 year fixed rates products at 60% to 80% LTV

- Temporary withdrawal of 5 year fixed rate product with £999 fee at 85% LTV

- Temporary withdrawal of 5 year fixed rate product with £0 fee at 60% to 80% LTV

Buy to Let

- New product codes issued for all products

Help to Buy

- New product codes issued for all products

Product Switch

Mainstream

- New product codes issued for all products

Buy to Let

- New product codes issued for all products

Help to Buy

- New product codes issued for all products

Product Change

At 5pm on Friday 04 September 2020 we will temporarily withdraw selected mainstream residential products.

New Business

Mainstream

- Temporary withdrawal of 2, 3 and 5 year fixed rates at 90% LTV

- Temporary withdrawal of 2 and 3 year fixed rates at 85% LTV

- Temporary withdrawal of 5 year fixed rate at 85% LTV with £0 product fee

Buy to Let

- No changes

Help to Buy

- No changes

Product Switch

Mainstream

- No changes

Buy to Let

- No changes

Help to Buy

- No changes

Product Change

On Tuesday 01 September 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates extended to 31 December.

New Business

Mainstream

- 2 year fixed rate products with £999 and £0 fee reintroduced with rates starting at 1.25%

- 3 year fixed rate products with £999 and £0 fee reintroduced with rates starting at 1.45%

- NEW 3 year fixed rate products with £1,499 fee introduced for 60% and 90% LTV

- Fixed end dates extended to 31 December

Buy to Let

- 2 year fixed rate products reintroduced with rates starting from 1.44% with a £1,999 fee

- 5 year fixed rate products reintroduced with rates starting from 1.84% with a £1,999 fee

- Fixed end dates extended to 31 December

Help to Buy

- New product codes issued for all products

- Fixed end dates extended to 31 December

Product Switch

Mainstream

- 2 year fixed rates increased by up to 0.06% at 60% to 80% LTV and up to 0.61% at 85% and 90% LTV

- 3 year fixed rates increased by up to 0.13% at 60% to 80% LTV and up to 0.80% at 85% and 90% LTV

- 5 year fixed rates increased by up to 0.13% at 60% to 80% LTV and up to 0.80% at 85% and 90% LTV

- Fixed end dates extended to 31 December

Buy to Let

- 2 year fixed rates reduced by up to 0.15% at 65% to 75% LTV

- 3 year fixed rates temporarily withdrawn

- 5 year fixed rates reduced by up to 0.15% at 65% to 75% LTV

- 2 year fixed rate products with £749 and £0 fee increased by up to 0.23% at 60% LTV

- 2 year fixed rate product with £1,499 fee reduced by up to 0.05% at 60% LTV

- 5 year fixed rates increase by up to 0.10% at 60% LTV

- Fixed end dates extended to 31 December

Help to Buy

- New product codes issued for all products

- Fixed end dates extended to 31 December

Product Change

On Monday 17 August 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates remain at end November.

New Business

Mainstream

- 2 year fixed product with £999 fee 60% to 85% LTV temporarily withdrawn

- 5 year fixed rate products at 90% LTV with £1,499 fee re-introduced with an increase of up to 0.30%

- 5 year fixed rate products with £999 fee at 60% to 80% LTV have increased by up to 0.66%

- 5 year fixed rate product at 60% LTV with £1,499 fee re-introduced with an increase of up to 0.06

- 5 year fixed rate products with zero fee at 60% to 85% LTV re-introduced with increase of up to 0.85%

Buy to Let

- All Buy to Let products temporarily withdrawn

Help to Buy

- 5 year fixed rate zero and £999 fee products at 60% to 75% LTV have increased by up to 0.14%

Product Switch

Mainstream

- New product codes only and no product changes

Buy to Let

- New product codes only and no product changes

Help to Buy

- 2 year fixed rate with £499 product fee at 60% to 75% LTV temporarily withdrawn

- 3 and 5 year fixed rate products at 60% to 75% LTV have increased by up to 0.14%

Product Change

On Friday 7 August 2020 we will re-launch our Mainstream mortgage range for New Business.

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged.

New Business

Mainstream

- Temporary withdrawal of 5 year fixed zero fee product (M2076) at 90% LTV

Buy to Let

- No change

Help to Buy

- Temporary withdrawal of Help to Buy 2 year fixed zero and £999 fee products (H169 & H170) at 60% to 75% LTV

Product Switch

Mainstream

- No change

Buy to Let

- No change

Help to Buy

- No change

Product Change

On Wednesday 5 August 2020 we will re-launch our Mainstream mortgage range for New Business. 

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged.

New Business

Mainstream

- Temporary withdrawal of 3 year fixed rate products

- Temporary withdrawal of 2 year fixed rates with £0 and £299 fee

- Temporary withdrawal of 5 year fixed rates with £1,499 fee

- Temporary withdrawal of 5 year fixed rates at 60% to 85% LTV with £0 fee

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Friday 31 July 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates remain at end November.

New Business

Mainstream

- 2 year and 5 year fixed products with £999 product fee 60% to 85% LTV re-introduced with an increase of up to 0.17%

- 2 year and 5 year fixed products with zero product fee 60% to 85% LTV re-introduced with an increase of up to 0.25%

- 5 year fixed rate product at 90% LTV with zero fee re-introduced with with an increase of up to 0.20%

- 3 year fixed rate product zero fee at 85% LTV increased by 0.10%

Buy to Let

- 3 year fixed rate products reduced by up to 0.40%

Help to Buy

- New product codes only and no product changes

Product Switch

Mainstream

- New product codes only and no product changes

Buy to Let

- 3 year fixed products reduced by up to 0.40%

Help to Buy

- New product codes only and no change to product

Product Change

On Friday 24 July 2020 we will re-launch our Mainstream mortgage range for New Business

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged. 

New Business

Mainstream

- Temporary withdrawal of 2 year fixed £999 fee product (M2047) at 85% LTV

- Temporary withdrawal of 5 year fixed £999 fee product (M2043) from 60% to 80% LTV

- Temporary withdrawal of 5 year fixed £999 fee product (M2051) at 85% LTV

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

We continue to have a technical issue which means you cannot submit your application when a card payment is required. If your application has a homebuyers report or arrangement fee please contact the Mortgage Desk on 0345 070 1999 (Option 1) who will provide assistance. If possible please have the card details to hand when you call and we will process the application and payment for you.

Phone lines are open Monday – Friday 09.00 – 17.00 and on Thursday 10.00 – 17.00.

Product Change

On Wednesday 22 July 2020 we will re-launch our Mainstream mortgage range for New Business

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged. p>

New Business

Mainstream

- Temporary withdrawal of 2 year fixed zero fee product (M2038) from 60% to 80% LTV

- Temporary withdrawal of 2 year fixed zero fee product (M2045) at 85% LTV

- Temporary withdrawal of 5 year fixed zero fee product (M2050) at 85% LTV

- Temporary withdrawal of 5 year fixed zero fee product (M2052) at 90% LTV

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Wednesday 15 July 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching. 

New product codes issued and end dates extended to end November.

New Business

Mainstream

- 2 year and 5 year fixed products with £999 product fee 60% to 85% LTV re-introduced.

- 5 year fixed rate product at 90% LTV with zero fee re-introduced with an increase of 0.30%

- Introduction of 5 year fixed product with £1,499 fee at 60% LTV.

- Selected fixed rate product increases of up to 0.20%

- End dates extended to the end of November.

Buy to Let

- End dates extended to end November

Help to Buy

- End dates extended to end of November

Product Switch

Mainstream

- Fixed rate increases at 75% LTV to 85% LTV of up to 0.15%

- All 90% LTV fixed rate products increased by 0.50%

- End dates extended to end November

Buy to Let

- End dates extended to end November

Help to Buy

- Fixed rate reductions on fee free products of up to 0.20%

- End dates extended to end November

Product Changes

When we announced our 90% LTV products on Wednesday 24th June we referenced that there would be limited availability for these mortgages.

Due to unprecedented demand we have made the decision to pause applications for the 90% LTV fee free range and are now withdrawing it from the market temporarily. However, the 90% LTV fee paying product remains available.

New Business

Mainstream

- Temporary withdrawal of 5 year fixed £0 product fee (M2030) at 90% LTV.

Buy to Let

No change


Help to Buy

No change


Product Switch

Mainstream

No change

Buy to Let

No change
 

Help to Buy

No change

Product Changes

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged.

New Business

Mainstream

- Temporary withdrawal of 2 year fixed £999 product fee (M2016) from 60% to 85% LTV.

- Temporary withdrawal of 5 year fixed £999 product fee (M2023) from 60% to 85% LTV.

Buy to Let

No change


Help to Buy

No change


Product Switch

Mainstream

No change

Buy to Let

No change
 

Help to Buy

No change

Product Change

On Friday 26 June 2020 we will re-launch our Mainstream mortgage range for New Business.

Reintroduction of 90% LTV products for our mainstream new business. All other products launched on Monday 22 June 2020 remain unchanged.

New Business

Mainstream

- 90% LTV 5 year fixed rate products reintroduced

- England & Wales - House purchase and remortgage max 90% LTV

- Scotland - House purchase max 75% LTV, remortgage max 80% LTV. It is expected that physical valuations will recommence in Scotland on Monday 29 June 2020 at which point house purchase and remortgage will be available in Scotland at 90% LTV.

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Help to Buy

- No change

  • From Friday 26 June Platform will offer a limited number of 90% LTV mortgages for those looking to mortgage a property in England or Wales.
  • From Monday 29 June we will be able to offer 90% LTV mortgages to customers in Scotland as physical valuations recommence.

Platform, the intermediary mortgage brand of The Co-operative Bank, will offer a limited number of 90% LTV mortgages from Friday 26 June to support first time buyers and home movers who need a higher LTV to help with their house purchase plans.

Commenting on the re-launch of 90% LTV mortgage products announced by Platform today, Fred Sharp, Head of Intermediary Business said:

“We’re glad to be able to offer our broker partners the choice at 90% LTV mortgages when looking for the best deal for their client’s circumstances. We recognised there is a customer need for this type of mortgage, so we wanted to be able to support this – albeit on a limited basis dependent on demand. We will continue to monitor the appetite for this type of mortgage and we will update our broker partners if we need to make changes to our range.

“We welcome the recommencing of physical valuations in Wales, and from Monday in Scotland, and look forward to working with our broker partners to support their clients across the UK with a good value mortgage deal as we will now be able to make our full range of products available for application.”

The rates for 90% LTV mortgages will be on the Platform website and available for applications from Friday 26 June 2020.

Carolyne Gregory, Head of Retail Lending at The Co-operative Bank said:

“As the market remains limited in the 90% LTV category, we’re pleased to be able to offer this higher LTV lending at a competitive price for customers who need to borrow at this level to help make their house purchase a reality. We’ll keep this offer available for as long as we can, dependent on demand.”

“Separately, we are also continuing to support those customers whose financial circumstances have been impacted by coronavirus. We have already granted mortgage payment deferrals for many of our customers who needed it, and we will continue to review requests for payment deferrals until the end of October. Customers who have already chosen to defer their mortgage payments can also ask for additional support and our team is here to help and talk to customers about what they might need at this challenging time.”

Details of the assistance available to our mortgage customers and the information they need to make a request for a mortgage payment deferral are on our website:

Coronavirus Support for Mortgage Customers.

-Ends-

Notes to Editors:

Mortgages that make a difference – in partnership with youth homelessness charity Centrepoint:
Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. The Co-operative Bank is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter. The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

For further information please contact:

Nicki Parry
The Co-operative Bank
Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk

About The Co-operative Bank

The Co-operative Bank plc provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used. Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

  • From Monday 22 June 2020 Platform’s Help to Buy mortgage range will be available to brokers.
  • 85% LTV mortgages are also being reintroduced for those looking for a mortgage in England.
  • All fixed rate mortgages for house purchases will be reduced from Monday 22 June by up to 0.20 percentage points

Platform, the intermediary mortgage brand of The Co-operative Bank, is reintroducing its Help to Buy mortgage range and also making mortgages of up to 85% LTV available for those looking for a mortgage in England from Monday 22 June 2020.

As the ability to carry out physical valuations is restricted in other parts of the UK, those looking for a mortgage for a property in Scotland or Wales are able to apply for mortgages up to 75% LTV for purchases and up to 80% LTV for remortgages with Platform from Monday.

Commenting on the reintroduction of mortgage products announced by Platform today, Fred Sharp, Head of Intermediary Business said,

“We are continuing to support our broker partners find the right products and best value deals for their clients as they start to get their aspirations of owning a home back on track. Help to Buy is an important part of our product range and we’re glad to have this available from Monday as well as increasing our available mortgages up to 85% LTV for those looking to purchase a house in England.”

As well as reintroducing mortgage products back into the range, Platform is also reducing all fixed rate mortgages for house purchases by up to 0.20 percentage points, all go forward rates are detailed on the Platform website and will be available for applications from Monday 22 June 2020.

Highlights of Platform’s mortgage range include:
1.17 per cent two year fixed rate at 60% LTV with a £999 fee and £250 cashback available
1.54 per cent five year fixed rate at 75% LTV with a £999 fee with £250 cashback available
1.44 per cent two year fixed rate at 80% LTV with a £999 fee with £250 cashback available

Commenting on the reduction to fixed rate mortgages Carolyne Gregory, Head of Retail Lending said:

“At Platform we are committed to helping as many people as we can purchase their first home while also supporting homeowners take their next step on the property ladder or to save money on their monthly mortgage payment. The changes announced today show we are almost back to offering our full range of products and with an across the board reduction to our fixed rate mortgages for house purchases, we are very much open for business.

“We are continuing to monitor the wider market to ensure our remortgage and product switch options remain competitive as we understand that finding the right deal can make a big difference to households navigating a challenging economic landscape. We will support our mortgage customers to find the right mortgage option for their circumstances and their financial situation.”

-Ends-

Notes to Editors

Mortgages that make a difference – in partnership with youth homelessness charity Centrepoint: Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. The Co-operative Bank is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter. The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

For further information please contact:

Nicki Parry
The Co-operative Bank
Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk

About The Co-operative Bank

The Co-operative Bank plc provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used. Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

Product Change

On Monday 22 June 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates extended to end October.

New Business

Mainstream

- 85% LTV fixed rate products reintroduced

- All fixed rate products reduced by up to 0.20%

- End dates extended to end October

- England - House purchase and remortgage max 85% LTV

- Scotland & Wales - House purchase max 75% LTV, Remortgage max 80% LTV

Buy to Let

- Standard Buy to Let fixed rates at 65% to 75% LTV re-introduced for purchase and remortgage in England

- Scotland & Wales - Max LTV for purchase and remortgage remains 60% LTV

- End dates extended to end October

Help to Buy

- Full Help to Buy fixed rate range reintroduced with end dates of end of October

Product Switch

Mainstream

- Selected fixed rate reduction at 60% to 80% LTV of up to 0.17%

- All 5 year fixed rates at 90% LTV and selected 3 year fixed products increased by up to 0.25%

- End dates extended to end October

Buy to Let

- 5 year fixed rates at 70%-75% LTV reduced by 0.10%

- End dates extended to end October

Help to Buy

- Help to Buy product switch products now available via brokers

Platform launches Help to Buy Product Transfers

In response to your feedback we have introduced a new service that will allow brokers to switch their client's maturing Help to Buy mortgage. If your client's Help to Buy product is coming to an end you can now submit a Help to Buy Product Transfer application by completing the form on our Product Transfer page. 

Product Changes – England only

On Wednesday 03 June 2020 we will re-launch house purchase applications at 80% LTV and allow applications for new build property in England.

We are awaiting further guidance on the rest of the UK. In the meantime, please do not submit house purchase applications at 80% LTV or for new build property in Wales or Scotland, as we will not be able to progress the property valuation.

New Business

 Mainstream

- Relaunch house purchase applications at 80% LTV, currently limited to 75% LTV

- Relaunch new build applications on the current range, up to 80% LTV

Product Change

On Wednesday 20 May 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates extended to end September.

New Business

New Business

- Selected fixed rate reductions of up to 0.10%.

- House purchase applications should only be submitted up to 75% LTV

- No New Build applications should be submitted at any LTV

- Tracker products remain temporarily removed.

Buy to Let

- Standard Buy to Let fixed rates at 60% LTV re-introduced for purchase and remortgage.

- New Build not available at this time.

Help to Buy

- All product options remain temporarily withdrawn

Product Switch

Mainstream

- All 5 year fixed rates at 60% LTV and 3 year fixed rate with no fee at 60% LTV reduced by 0.05%

- All fixed rates at 85-90% LTV increased by 0.10%

Buy to Let

- Selected fixed rated at 65%-75% increased by up to 0.10%

- All tracker products temporarily withdrawn

Mortgage valuations

Following the latest Government advice on Sunday 10 May and further clarification along with updated guidelines, our valuation partners will be able to carry out physical inspections of properties in England from Monday 18 May.

We are awaiting further guidance on properties in the rest of the UK and we will continue to carry out desktop valuations where we can.

Our focus over the short term will be to work applications that are currently on hold as quickly and safely as possible, we will complete valuations in date order with the oldest applications being booked first.

Please ensure you advise us of any material changes to your clients’ circumstances. In addition, if your client no longer wants to proceed with the mortgage application please let us know as soon as possible so we can prioritise applications that are progressing.

The safety of our customers and valuers remains our number one priority. Valuations will be completed in line with government guidance and will involve a detailed safety assessment. We understand that some customers will not feel comfortable letting a valuer into the property at this time, where this is the case we will attempt a desktop valuation or place the valuation on hold where this is not possible.

Desktop Valuations Criteria:

  • Residential remortgage and revaluations up to 80% LTV
  • Residential purchase up to 75% LTV
  • Max Property Limit - £1m Greater London and £750k elsewhere

Key exclusions will be:

  • BTL applications above 60% LTV
  • New Build
  • Non-standard construction
  • LTV above 80% for re-mortgage and above 75% for purchase

In a small number of instances, it may not be possible to complete a desktop valuation for cases that meet the criteria outlined.

Unfortunately, due to the nature of homebuyers reports and buildings surveys these instruction types will not be possible at this time.

Product Change

On Friday 03 April 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates extended to end July.

New Business

Mainstream

- Fixed rates between 70% and 80% increased by up to 0.15%

- End dates extended to end July

- Please note: House purchase applications should only be submitted up to 75% LTV

- Please note: No New Build applications should be submitted at any LTV

- Tracker products remain temporarily removed.

Buy to Let

- All product options remain temporarily withdrawn

Help to Buy

- All product options remain temporarily withdrawn

Product Switch

Mainstream

- No pricing changes

Buy to Let

- No pricing changes

Product withdrawal

From close of business on Friday 27th March we will update our Mainstream, Help to Buy and Buy to Let mortgage ranges for New Business.

Following the latest Government advice around social distancing, our valuation partners are unable to inspect properties; this means some mortgage applications cannot progress while this type of valuation is unavailable. 

To ensure customers are only able to make applications for mortgages that can be completed during this time, we are making some changes to our range to only offer mortgage products that don’t require a physical valuation to be carried out. This is a temporary change whilst there are no physical valuations available. We will continue to review our product range and ensure we’re offering as much choice to borrowers as possible while continuing to act as a responsible lender.

Product codes and end dates remain unchanged across the range.

New Business

Mainstream

- LTV options greater than 80% will be temporarily withdrawn;

Please note: House purchase applications should only be submitted up to 75% LTV
Please note: New Build applications should not be submitted at any LTV

- All tracker products will be temporarily withdrawn.

Buy to Let

- All product options temporarily withdrawn.

Help to Buy

- All product options temporarily withdrawn.

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Wednesday 25 March 2020 we will update our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching to reflect the change in Bank of England Base rate.

Fixed rate end dates unchanged. All Product codes changed.

New Business

Mainstream

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

- SVR reduced to 4.34%

Buy to Let

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

Help to Buy

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

- SVR reduced to 4.34%

Product Switch

Mainstream

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

- SVR reduced to 4.34%

Buy to Let

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

On 19th March 2020, the Bank of England base rate decreased from 0.25% to 0.10% - find out more.

Product Change

On Monday 16 March 2020 we will update our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching to reflect the change in Bank of England Base rate.

Fixed rate end dates unchanged. Product codes unchanged.

New Business

Mainstream
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Buy to Let
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Help to Buy
- SVR reduced by 0.50% to 4.49%

Product Switch

Mainstream
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Buy to Let
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Bank of England base rate change

On 11th March 2020, the Bank of England base rate decreased from 0.75% to 0.25% - find out more.

The Co-operative Bank is pleased to announce the further development of its mortgages team with two key senior appointments.

 

Fred Sharp joins as Head of Intermediaries for the bank’s Platform mortgage brand. Fred joins from CYBG where over a ten-year period he held a series of senior leadership roles, most recently as Head of Mortgage Distribution. Fred will join the Co-operative Bank at the start of April, and his remit will be to build on and strengthen existing strategic relationships with brokers and corporate partners. He will be responsible for continuing ongoing new business momentum for Platform, to achieve sustainable growth through 2020 and beyond in what continues to be an intensely competitive market.

Last week the Co-operative Bank reported a resilient performance for its mortgage business in 2019, despite market competition, with 5 per cent net growth in mortgage balances, reflecting £3.8bn of gross new mortgage lending. The Bank attributed this to its strong relationships with brokers and agile pricing.

The Co-operative Bank has also promoted Carolyne Gregory to the role of Head of Retail Lending, responsible for developing and delivering the Bank’s retail lending strategy. A product and commercial leader specialising in mortgages, Carolyne has spearheaded key product initiatives and held senior leadership roles over a number of years at The Co-operative Bank, since joining from HSBC in 2014.

 

Darrell Evans, Chief Commercial Officer at The Co-operative Bank said,

“I am delighted that Fred has decided to join The Co-operative Bank, and I am looking forward to working with him and Carolyne. We see significant opportunities for further growth in our intermediary mortgage business and our mortgage leadership team will seek to maintain the momentum that we established through 2019 and build on our successful performance of last year.

“The mortgage market remains highly competitive. Our focus will be to maintain our high levels of service and continue to offer good value mortgage products, as well as improving our systems and processes to make placing business with us faster and easier for brokers.

“As we develop our product agenda, we will continue to reflect the ethical differences that set The Co-operative Bank apart from others in the market as we look to acquire new business throughout 2020. As the original ethical bank and the only UK high street bank with a customer-led ethical policy, we will continue to support the causes that matter most to our customers, including tackling youth homelessness with Centrepoint by making a donation for every new mortgage or mortgage switch completed.”

 

-Ends-

Notes to Editors:

Images of Platform leadership available on request.

 

Fred Sharp

Fred has more than 15 years of experience leading teams in the mortgages sector. He has an outstanding record of delivering sales results and change management. He held a number of senior roles at CYBG over 10 years including Head of Intermediary Mortgage Distribution. His last role was as Head of Mortgage Distribution for CYBG and he now joins The Co-operative Bank as Head of Intermediaries.

Carolyne Gregory

Carolyne joined The Co-operative Bank in November 2014 from HSBC Bank PLC where she held roles at both first direct and HSBC spanning across Credit Risk and Product Management. With over a decade of experience in financial services and specialising in Mortgages, Carolyne has spearheaded key product initiatives and held strategic management roles over a number of years at The Co-operative Bank before she was promoted to her current role as Head of Retail Lending at the end of 2019.

Darrell Evans

Darrell joined the Co-operative Bank in January 2018 and he is currently the Chief Commercial Officer. Darrell has significant experience in; financial services, strategy, marketing and operations and spent the first part of his career at Royal Bank of Scotland plc. There he was Managing Director, Mortgages, Loans and Retail Telephony in the retail banking division responsible for all aspects of the Group’s mortgage proposition. Prior to that, he was Product Director for RBS retail bank. Darrell has also held senior executive roles at Direct Line Insurance Group plc, Virgin Money plc and The Consulting Consortium where he was CEO. Darrell also holds a non-executive role in the property services sector.

Mortgages that make a difference – in partnership with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. The Co-operative Bank is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer, and existing customer, product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

 

For further information please contact:

Nicki Parry

The Co-operative Bank

Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk  

 

About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used.  Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

Product Change

On Friday 28 February 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end June. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rates with fees increased by 0.05%.

- All 95% LTV rates reduced to be now all at 3.00%.

Buy to Let

- Selected fixed rates reduced by up to 0.10%

Help to Buy

- No change

Product Switch

Mainstream

- Selected fixed rates increased by up to 0.20%

Buy to Let

- Selected fixed rates reduced by up to 0.10%

We are currently experiencing a technical issue and we are unable to take card payments for mortgage applications. If your application requires a fee to be paid please contact the Mortgage Desk on 0345 070 1999 (Option 1) who will provide assistance.

Phone lines are open Monday – Friday 09.00 – 17.00 and on Thursday 10.00 – 17.00. 

Apologies for any inconvenience caused while we are working to resolve the issue.

Product Change

On Wednesday 12 February 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain unchanged. New product codes will be issued for all products.

New Business

Mainstream

- 2 year fixed rate with £299 fee reduced by 0.05% at 60%, 70% and 75% LTV

- All other 2 year fixed and 3 & 5 year fixed rates with £999 fee at 60%-90% LTV reduced by 0.05%

- 2 year fixed rate at 95% LTV increased by 0.03%

- 2, 3 and 5 year fixed rates with £0 fee at 60%-90% LTV increased by 0.05%

Buy to Let

- No change

Help to Buy

- 2 and 5 year fixed rates with £999 fee reduced by 0.05%

Product Switch

Mainstream

- All 2, 3 and 5 year fixed rates with a fee payable reduced by 0.05%

- All 2, 3 and 5 year fixed rates with a £0 fee increased by 0.05%

Buy to Let

- No change

Product Change

On Wednesday 29 January 2020 we will make a minor change to our Mainstream mortgage range for New Business.

New Business

Mainstream

- M1928 2 year fixed rate 60-90% LTV zero fee products temporarily withdrawn.

Product Change

On Wednesday 15 January 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end April. New product codes will be issued for all products.

New Business

Mainstream

- 5 year fixed rate no fee 90% LTV reintroduced with 0.05% increase

- All tracker products aligned to the same rate for each product in 60%-75% LTV bands.

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- Selected fixed rates up to 75% LTV reduced by up to 0.10% aligning to the same rate for each product in 60%-75% LTV bands.

- All tracker products aligned to the same rate for each product in 60%-75% LTV bands.

Buy to Let

- No change

Product Change

On Thursday 9 January 2020 we will make a minor change to our Mainstream mortgage range for New Business.

New Business

Mainstream

- 5 year fixed rate with no fee at 90% LTV temporarily withdrawn.

It’s a well-reported fact that many young people across the UK continue to struggle with access to affordable housing and are forced into homelessness.

As a mortgage lender with strong values and ethics, Platform, part of The Co-operative Bank, see it as their duty to help to end youth homelessness – and their partnership with Centrepoint is key to that. With every mortgage completion* they make a donation to the Centrepoint Helpline – so it really is thanks to you that they are able to make a difference when you place business through Platform.

Centrepoint has been helping vulnerable young people for 50 years and demand for their services has definitely not eased over the years. In the first ten months of 2019, the Centrepoint Helpline received over 8,000 calls and provided 4,543 young people with advice and guidance on housing issues.

As well as supporting Centrepoint through our mortgage donation, The Co-operative Bank also supported the charity’s Manchester Sleep Out for the third year running in November 2019, an event which raised over £84,000 to continue funding the charity’s work with vulnerable young people in our home city and beyond.  

 

Find out more from Platform and their work with Centrepoint 

*New mortgage customer applications and existing mortgage customer product switch applications received from 2 May 2018 up to and including 31 December 2020 will be eligible for a £5 donation, on completion of the mortgage or product switch (as the case may be).  Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the Centrepoint charity donation at this time.  The Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  

The £5 donation will be made for each eligible mortgage sold through direct and intermediary channels i.e. it applies to the Bank’s Britannia and Platform branded mortgages. Britannia and Platform are trading names of The Co-operative Bank p.l.c. The Bank reserves the right to change or withdraw the donation arrangement at any time.

Centrepoint is a registered charity in England and Wales, No. 292411

Product Change

On Wednesday 11 December 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain at end February. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rates at 80% to 95% LTV reduced by up to 0.10%

Buy to Let

- All BTL fixed rates reduced by 0.05%

Help to Buy

- 5 year fixed rates reduced by up to 0.10%

Product Switch

Mainstream

- Selected fixed rates at 80% to 90% LTV reduced by up to 0.10%

- 3 year fixed rates at 60% LTV increased by up to 0.10%

Buy to Let

- All BTL fixed rates reduced by 0.05%

Product Change

On Monday 18 November 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end February. New product codes will be issued for all products.

New Business

Mainstream

- Selected 2 year fixed rates up to 75% LTV increased by up to 0.10%

- 5 year fixed rate with £999 product fee at 60% LTV increased by 0.05%

- Selected 3 and 5 year fixed rates up to 90% LTV reduced by up to 0.10%

- 95% LTV rates reduced by up to 0.20%

Buy to Let

- All fixed rates reduced by 0.05%

Help to Buy

- No change

Product Switch

Mainstream

- Selected 2 year fixed rates up to 75% LTV increased by up to 0.10%

- 5 year fixed rates with a product fee at 60% LTV increased by 0.05%

- Selected 3 and 5 year fixed rates up to 90% LTV reduced by up to 0.10%

Buy to Let

- All fixed rates reduced by 0.05%

Product Change

On Monday 28 October 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain at end January. New product codes will be issued for all products to support the policy change.

New Business

Mainstream

- No change

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Monday 14 October 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain at end January. New product codes will be issued for all products.

New Business

Mainstream

- Rate reductions of up to 0.10% on all fee-paying fixed rate products at 60-85% LTV

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- Rate reductions of up to 0.10% on all fee-paying fixed rate products at 60-85% LTV

Buy to Let

- No change

Product Change

On Tuesday 24 September 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end January. New product codes will be issued for all products.

New Business

Mainstream

- 2 and 5 year fixed rate 95% LTV reintroduced with 0.15% increase

- 3 year fixed rate 95% LTV increased by 0.10%

Buy To Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product change

On Friday 13 September 2019 we will be updating our Platform Mainstream products. Fixed rate end dates unchanged. Product codes unchanged.

New Business

Mainstream

- 5 year fixed rate 95% LTV temporarily withdrawn

Buy to Let

- No change

Help to Buy

No change

Product Switch

 Mainstream

No change

Buy to Let

No change

Product change

On Thursday 05 September 2019 we will be updating our Platform Mainstream products.

New Business

Mainstream

- 2 year fixed rate 95% LTV temporarily withdrawn

Buy to Let

- No change

Help to Buy

No change

Product Switch

 Mainstream

No change

Buy to Let

No change

Product change

On Friday 30 August 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products.

New Business

Mainstream

- All 2 year fixed rates up to 75% LTV reduced by 0.05%
- Selected 3 year fixed rates reduced by up to 0.12%
- Selected 5 year fixed rates reduced by up to 0.12%

Buy to Let

- All BTL rates reduced by 0.05%

Help to Buy

- All rates reduced by 0.05%

Product Switch

 Mainstream

- All 2 year fixed rates up to 75% LTV reduced by 0.05%
- Selected 3 year fixed rates reduced by up to 0.12%
- Selected 5 year fixed rates reduced by up to 0.12%

Buy to Let

- All BTL 2 and 5 year fixed rates reduced by 0.05%
- Selected 3 year fixed rates reduced by 0.05%

Product change

On Monday 19 August 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products.

New Business

Mainstream

- All 95% LTV fee paying products remain temporarily withdrawn
- All 2 year fixed rates up to 80% LTV reduced by 0.05%
- 3 year fixed rates with fees up to 75% LTV reduced by 0.05%
- 5 year fixed rates with fees up to 75% LTV reduced by 0.03%

Buy to Let

- All 5 year fixed rates reduced by 0.05%

Help to Buy

- All 5 year fixed rates reduced by 0.05%

Product Switch

 Mainstream

- All 2 year fixed rates up to 80% LTV reduced by 0.05%
- 3 year fixed rates with fees up to 75% LTV reduced by 0.05%
- 5 year fixed rates with fees up to 75% LTV reduced by 0.03%

Buy to Let

- All 5 year fixed rates reduced by 0.05%

Product change

On Tuesday 13 August 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end November. New product codes will be issued for all products.

New Business

Mainstream

- All 95% LTV £999 fee products temporarily withdrawn
- All 95% LTV zero fee products reduced by up to 0.07%

Buy to Let

- No rate changes

Help to Buy

- No rate changes

 

Product Switch

 Mainstream

- No rate changes

Buy to Let

- No rate changes

Platform’s BDM team continues to be voted best for service in latest satisfaction survey results

Platform, the intermediary mortgage brand of The Co-operative Bank, is proud to be continuing to deliver great service for broker partners as the latest results of the BVA BDRC survey show*.

The externally carried out satisfaction survey found that the Platform Business Development Management (BDM) team have increased their satisfaction score during the first half of 2019 in areas such as;

- The accessibility of the BDM team and;
- The overall service of the BDM team.

In this latest set of results the overall score was 89 per cent satisfaction for the BDM team up from 80 per cent for the same period in 2018. The team has worked hard to ensure that despite increased volumes, service has remained strong and achieved a Net Promoter Score that is currently 36+, and up from 30+ for the same period in 2018.

Neil Wyatt, Head of Intermediary Distribution at Platform said; “I’m very proud that even with the increased demand that we’ve seen for mortgage business during 2019 we’ve met that challenge successfully. We really hit the ground running at the beginning of 2019 as we wanted to build on all that we had achieved throughout last year. I’m really pleased that we’ve been able to continue to deliver a high standard of both service and support for our broker partners, and we will be working to ensure that this is something we can maintain through the rest of this year and beyond.”

Throughout 2019 The Co-operative Bank and Platform will continue to support youth homelessness Charity Centrepoint. Homelessness is an issue that has been really focused on in the mortgage industry with fundraising events taking place at the end of 2018, including The Co-operative Bank’s sponsorship of Centrepoint’s Manchester Sleep Out.

Neil Wyatt continued: “We hope that our broker customers and corporate partners will be able to support us with our work with Centrepoint through 2019. For every new mortgage or product switch completed The Co-operative Bank donates £5 to Centrepoint. By choosing to complete mortgages with us our broker partners and their clients are helping to tackle the issue of youth homelessness and help vulnerable young people in crisis.”

Mortgages that make a difference - partnering with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. In May 2017 we partnered with youth homelessness charity Centrepoint to support their vital work by making a donation on behalf of each new mortgage customer and through colleague fundraising. In May 2018 the mortgage charity donation was extended to include product switch/ product transfer customers.

The Co-operative Bank plc is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

-Ends-

Notes to Editors:
*Platform broker satisfaction survey conducted and prepared by BVA BDRC. The methodology is:

- 20-minute telephone interviews with intermediaries who had recently submitted mortgage cases to Platform
- 200 interviews were completed with intermediaries from a sample list provided by Platform
- Fieldwork carried out across March, April and May 2019

Platform's current Net Promoter Score is +36, up from +30 for the same period of 2018.

For further information please contact:

Nicki Parry
The Co-operative Bank
Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk

About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to around four million retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used.  Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

- Select new mortgages across our mainstream, Buy-to-let and Help to Buy range have been reduced by up to 0.10 percentage points.
- Platform continues to offer highly competitive and in some cases market leading help to buy mortgage deals.
- Select product switch mortgages have been reduced by up to 0.15 percentage points.

Platform, the intermediary mortgage brand of The Co-operative Bank, has today reduced interest rates across a range of mortgage products, with some mortgages reduced by up to 0.15 percentage points. 

Platform continues its commitment to support first time buyers with competitive deals across its Help to buy Range with some market leading deals now available. Highlights include;

- Market leading two year fixed rate help to buy mortgage at 60% and 75% LTV at 1.59 per cent with a £999 fee;
- Market leading five year fixed rate help to buy mortgage at 60% and 75% LTV at 1.99 per cent with a £999 fee;
- Two year fixed rate help to buy mortgage at 60% and 75% LTV at 2.04 per cent with a £0 fee;
- Market leading five year fixed rate help to buy mortgage at 60% at 2.19 per cent with a £0 fee;
- Five year fixed rate help to buy mortgage at 75% LTV at 2.24 per cent with a £0 fee.

Other highlights of the newly reduced mortgage range include;
- Five year fixed rate mortgage at 60% LTV at 1.79 per cent with a £999 fee;
- Five year fixed rate mortgage at 60% LTV with a market leading rate of 1.94 per cent with a £0 fee;
- Market leading five year fixed rate buy-to-let mortgage at 60% LTV at 2.14 per cent with a £0 fee.

All with the benefit of free standard valuation for purchase and remortgage. Free standard legals are also available for remortgage. For full details visit: www.platform.co.uk

Neil Wyatt, Head of Mortgage distribution for Platform said: “We continue to review the interest rates we offer across our range of mortgages to ensure we’re offering competitive deals for broker clients looking for the right mortgage for their needs and we remain committed to having a competitive range of mortgages for first time buyers looking to get on to the property ladder and are pleased to be offering a number of best in market Help to Buy mortgage deals.

 

“We have always had a policy of offering preferential rates for our existing customers and this price change means we now have a number of deals that are best in market for our existing customers to benefit from. We want customers to pick a competitive deal from us and know that they will still be offered a great deal when they’re looking to switch their mortgage. We do value our loyal customers and want work with our broker partners to keep their clients’ business for the long term.”

 

As Platform is the intermediary mortgage brand of The Co-operative Bank, Platform is committed to The Co-operative Bank's unique customer led Ethical Policy. The Co-operative Bank and Platform continue to support youth homelessness Charity Centrepoint. A £5 donation is made by The Co-operative Bank in respect of every Platform branded new mortgage and existing customer product switch application received which proceeds to completion.

 

Mortgages that make a difference - partnering with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. In May 2017 we partnered with youth homelessness charity Centrepoint to support their vital work by making a donation on behalf of each new mortgage customer and through colleague fundraising. In May 2018 the mortgage charity donation was extended to include product switch/ product transfer customers.

 

The Co-operative Bank plc is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.


 

 

-Ends-

Notes to Editors:

Mortgage rates correct as at 9:00am Friday, 12 July, 2019

For full details of Platform’s mortgage range please go to www.platform.co.uk

 

For further information please contact:

 

Nicki Parry

The Co-operative Bank

Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk  

 

 

Product change

On Friday 12 July 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products. 

New Business

Mainstream

- Selected fixed rates reduced by up to 0.10%

Buy to Let

- Selected 5 Year fixed rates reduced by up to 0.10%

Help to Buy

- All Fixed Rates reduced by up to 0.10%

Product Switch

Mainstream

- Selected fixed rates reduced by up to 0.15%

Buy to Let

- Selected 5 year fixed rates reduced by up to 0.10%

Platform reduces interest rates on select Help to Buy mortgages

- Platform’s five year fixed rate Help to Buy mortgages have been reduced by 0.10 percentage points
- Platform continues supporting first time buyers with good value mortgage deals


Today (Monday, 24 June, 2019), Platform; the intermediary mortgage brand of The Co-operative Bank, has reduced the interest rate of its five year fixed rate Help to Buy mortgages by 0.10 percentage points.

Adhering to the Government Help to Buy scheme terms and conditions as standard; the already competitive Platform Help to Buy range is available up to a maximum 75% LTV and over a maximum term of 40 years for both first time buyers and homeowners.

Platform’s Help to Buy mortgages are available at either 60 per cent or 75 per cent LTV and are fixed for either a two or five year term. Products either have a £999 arrangement fee with no administration fee or are fee free for borrowers. 

Highlights of the changes being made today include*:

- 04 per cent five year fixed rate mortgage at 60 per cent LTV with a £999 arrangement fee;
- 09 per cent five year fixed rate mortgage at 75 per cent LTV with a £999 arrangement fee;
- 24 per cent five year fixed rate mortgage at 60 per cent LTV with a £0 arrangement fee;
- 29 per cent five year fixed rate mortgage at 75 per cent LTV with a £0 arrangement fee.

All of Platform’s Help to Buy mortgages are available with £500 cashback and free mortgage valuation.

Neil Wyatt, Head of Intermediary Distribution for Platform said: “At Platform we’re continuing to support the first time buyer market by reducing select interest rates within our already competitive Help to Buy mortgage range. 

“We are working with more and more broker partners as they look for the best value deal for their clients looking to buy their first home and we will continue to support and service brokers looking to place a Help to Buy mortgage with Platform.”  

For full details of Platform’s mortgage range please go to www.platform.co.uk

Mortgages that make a difference - partnering with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. In May 2017 we partnered with youth homelessness charity Centrepoint to support their vital work by making a donation on behalf of each new mortgage customer and through colleague fundraising. In May 2018 the mortgage charity donation was extended to include product switch/ product transfer customers. 

The Co-operative Bank plc is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

.

 -Ends-

 

 

*All rates correct as of 9am Monday 24th June 2019

 

For further information please contact:

 

Nicki Parry

The Co-operative Bank

Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk  

 

About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to around four million retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used.  Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

Product change

On Monday 24 June 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rates reduced by 0.05%

Buy to Let

- 5 Year fixed rates with zero fee reduced by 0.10%

Help to Buy

- 5 Year fixed rates reduced by 0.10%

 

Product Switch

 Mainstream

- Selected fixed rates reduced by 0.05%

Buy to Let

- 5 Year fixed rates with zero fee reduced by 0.10%

Product change

On Friday 07 June 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end September. New product codes will be issued for all products. 

New Business

Mainstream

- 2 year fixed rate with £0 fee at 60%, 70% & 75% LTV reduced by 0.05%
- 5 year fixed rate with £0 fee at 70% & 75% LTV reduced by 0.05%
- 2 year fixed rate at 90% LTV with £299 fee increased by 0.05%
- 2 year fixed rate at 95% LTV with £0 fee increased by 0.10%

Buy to Let 

- 2 year fixed rates with £1,999 and £999 fee reduced by up to 0.15%
- 3 year fixed rates with £1,999 and £999 fee reduced by up to 0.10%
- 5 year fixed rates with £1,999 and £999 fee reduced by up to 0.15%

Help to Buy 

- New product codes only issued for all products

Product Switch

Mainstream

- 2 year fixed rate with £0 fee at 60%, 70% & 75% LTV reduced by 0.05%
- 5 year fixed rate with £0 fee at 70% & 75% LTV reduced by 0.05%

Buy to Let 

- 2 year fixed rates with £1,499 and £799 fee reduced by up to 0.10%
- 3 year fixed rates with £1,499 and £799 fee reduced by up to 0.05%
- 5 year fixed rates with £1,499 and £799 fee reduced by up to 0.10%

Product change

On Friday 10 May 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end August. New product codes will be issued for all products.

New Business

Mainstream

- 3 & 5 year fixed rates with £1499 fee temporarily withdrawn.
- 2 year fixed rate at 60% LTV with zero fee increased by 0.05%
- 5 year fixed rate at 60% LTV with £999 fee increased by 0.05%
- Selected 3 year fixed rates reduced by up to 0.10%
- New product codes issued for all products
- End dates extended to end August

Buy to Let 

- Selected Buy to Let fixed rates at 60% & 65% LTV reduced by up to 0.10%
- New Product Codes issued for the entire range
- End dates extended to end August

Help to Buy 

- New product codes issued for all products
- End dates extended to end August

Product Switch

Mainstream

- Selected 3 year fixed rates at 60% LTV reduced by 0.05%
- New product codes issued for all products
- End dates extended to end August

Buy to Let 

- Selected fixed rates reduced by up to 0.10%
- New Product Codes issued for the entire range
- End dates extended to end August

Reset your Click password

If you have forgotten the password for your Click account, please click here to reset it.

A password reset instruction and verification email will be sent to your registered email address. If you do not receive the email within 30 mins, please contact the Broker Support Team on 0345 070 1999 Monday-Friday between 09:00-17:00 (Thursday 10:00-17:00).

Product change

On Friday 12 April 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain unchanged. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rate reductions of up to 0.10%

Buy to Let 

- Buy to Let fixed rates with zero fee at 60% LTV reduced by 0.05%

Help to Buy 

- Fixed rates with zero fee reduced by 0.05%

Product Switch

Mainstream

- 5 year fixed rates at 60% LTV reduced by 0.05%

Buy to Let 

- 2 year fixed rate with zero fee at 60% reduced by 0.05%

Product change

On Monday 01 April 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end June. New product codes will be issued for all products.

New Business

Mainstream

- 2 year fixed rate products with zero fee and £299 fee reduced by 0.05%

- 3 year fixed rate products with zero fee reduced by 0.05%

- All 5 year fixed rate products reduced by 0.05%

- All 95% LTV fixed rate products reduced by up to 0.15%

Buy to Let 
- 2 and 5 year fixed rate products with zero fee between 65% & 75% reduced by 0.05%, excluding Premier products

Help to Buy 
- All products reduced by 0.05%

Product Switch

Mainstream

- All fixed rate products reduced by 0.05%

Buy to Let 
- No change

Product change

On Thursday 28 February 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New Business

Mainstream

- All fixed rate products increased by 0.05%

Buy to Let 

- All Buy to Let fixed rate products increased by 0.05%, excluding Premier products

Help to Buy 

- All products increased by 0.05%

Product Switch

Mainstream

- No change

Buy to Let 

- No change

Product change

On Monday 18 February 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates are extended to 31 May. New product codes will be issued for all products.

New Business

Mainstream

- 2 year fixed rates £999 fee 90% LTV increased by 0.05%

- 2 year fixed rates £0 fee 90% LTV increased by 0.10%

Buy to Let 

- 2 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

- 5 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

Help to Buy 

- No change

Product Switch

Mainstream

- 2 year fixed rates fee paying 90% LTV increased by 0.05%

- 2 year fixed rates £0 fee 90% LTV increased by 0.10%

Buy to Let 

- 2 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

- 5 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

Product change

On Monday 28 January 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes have been issued for all products to support system changes, however product rates, fees, fixed end dates and features remain unchanged.

Product Change - Friday 18th January

On Friday 18 January 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates are extended to 30 April. New product codes will be issued for all products.

New Business

Mainstream

- Selected 2 & 5 year fixed rates at 60% and 90% LTV reduced by up to 0.10%

- 2, 3 & 5 year fixed rates at 95% LTV reduced by up to 0.10%

Help to Buy 

- End dates extended to 30 April and new product codes issued

Buy to Let 

- 5 year fixed rates at 60% LTV reduced by 0.10%

Product Switch

Mainstream

- Selected 2 & 5 year fixed rates at 60% and 90% LTV reduced by up to 0.10%

Buy to Let 

- 5 year fixed rates at 60% LTV reduced by 0.10%

On Monday 26th October Platform will remove the £500,000 maximum loan limit to qualify for fees assisted remortgages. The only restriction that will remain in place is the exclusion of unencumbered properties as well as standard Platform LTV restrictions.

Where appropriate, our conveyancing partners will be able to utilise the England & Wales Land Registry E-Deed service for the fees assisted remortgage proposition, but in order for it to run smoothly it is critical that we receive a customer email address as part of the application process. Please ensure you include customer email addresses on the application form, where available, for both applicants so that they can benefit from this improved service.

Our conveyancing partner O’Neill Patient can also offer an online app to make the remortgage process easier providing the customer has an email address. The online app benefits include:

  • Completion of the questionnaire via the app (meaning client can receive this very quickly after instruction and can complete on the go rather than waiting to complete paper documentation)
  • Messaging service via the app to keep all messages and documents stored in one place
  • To upload and share additional documentation securely such as ID, Bank statements etc which can be taken as a photo and uploaded.
  • Full case milestone updates available showing progress of the transaction and information regarding what each step means.
    We hope you and your customers will benefit from this improvement to our fees assisted remortgage proposition.

Finally, to help your cases progress to offer as quickly and smoothly as possible, please check our website www.platform.co.uk where we have included some additional hints and tips.

Thanks for your support.

The Platform Team

Product Change

On Friday 23 October 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates extended to 31 January.

New Business

Mainstream

- 5 year fixed rate at 60% to 80% LTV increased by up to 0.13%

- New product codes issued for all products

- End dates extended to end January

Product Switch

Mainstream

- New product codes issued for all products

- End dates extended to end January

Buy to Let

- New product codes issued for all products

- End dates extended to end January

Help to Buy

- New product codes issued for all products

- End dates extended to end January

Product Change

On Friday 25 September 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates remain at 31 December.

New Business

Mainstream

- 5 year fixed rate products at 70% to 80% LTV with £999 fee increased by up to 0.33%

Buy to Let

- All new business Buy to Let products temporarily withdrawn

Help to Buy

- All new business Help to Buy products temporarily withdrawn

Product Switch

Mainstream

- 2, 3 and 5 year fixed rate products at 60% to 75% LTV reduced by up to 0.28%

- 2 year fixed rate products at 80% and 90% LTV increased by up to 0.16%

- 3 and 5 year fixed rate products at 80% LTV with £0 fee increased by 0.04%

- 3 and 5 year fixed rate products at 80% LTV with £1,249 fee reduced by 0.03%

- 3 and 5 year fixed rate products at 85% LTV reduced by 0.29%

Buy to Let

- New product codes issued for all products

Help to Buy

- New product codes issued for all products

Platform supports new fundraising event for homeless young people – as 78% of councils see increase in homelessness

We’re delighted to announce that as part of The Co-operative Bank, Platform will be supporting Centrepoint’s new flagship fundraising event, STAY:UP.

The mass participation event, which for 2020 replaces the charity’s long-running annual Sleep Out, asks participants to go just one night without sleep to raise awareness of both the challenge to homeless young people of having to go without sleep when they have nowhere safe to rest their head, but also to raise much needed funds to be used to help homeless young people across the UK.

Centrepoint estimates that over 100,000 young people in the UK were homeless, or at risk of homelessness, in 2018/19. Now, in the wake of the Coronavirus pandemic, Centrepoint research has revealed that 78% of local councils across England have seen an increase in homelessness* and there has been a 50% increase in calls to the Centrepoint Helpline from young people who are facing homelessness.

In addition to this, figures released by the Office for National Statistics (ONS) show that over the last quarter (May-July 2020), there has been a significant fall in the number of young people in employment. The number of people aged 16 to 24 years in employment decreased by 156,000 to 3.63 million, and this includes a record fall of 146,000 for those aged 18 to 24 years.

All donations raised by STAY:UP participants will go directly towards supporting homeless young people with safe and stable accommodation, the skills needed to live independently, support with their physical and mental health and access to training and education.

The new event challenges participants to stay up all night – between 8 am and 8 pm – on the night of 8 October. Participants can walk, game, bake or simply try to stay awake during a virtual content stream, that includes a performance from The Vamps, a cooking demo with Ching He Huang and much more.

Alongside participants’ own activity the charity will be sharing pictures, videos and insights throughout the night on Centrepoint’s Instagram profile, @CentrepointUK.

Platform and Co-operative Bank staff will be taking on physical challenges as well as staying up to help the charity to reach its £500,000 target for the event. Together with their customers, Platform and The Co-operative Bank have raised £1.5 million to support homeless young people since the start of the charity partnership in 2017. 

Darrell Evans, Managing Director, Retail Banking at The Co-operative Bank said: “The issue of youth homelessness in the UK was at crisis point even before the pandemic, and with the additional consequences of lockdown it’s clear that the impact on young people who were already struggling is significant and we may see the effects of that for a long time to come.

“It’s vital that we take as much action as we can now to try to counteract this. Some of these vulnerable young people aren’t always visible in our communities but they desperately need support services and opportunities for them to get education and training that might help keep them safe and have a better life in the future. We are committed to supporting this event and many of us at the Co-operative Bank will be taking part to raise much needed funds whilst also highlighting the struggles of homeless young people in the UK and what we can do to make a difference.”

 

Lucy Coleman, Centrepoint’s Senior Corporate Development Manager, said: “We’re immensely grateful for the ongoing support from The Co-operative Bank. Coronavirus has perhaps been the biggest challenge Centrepoint has ever faced, and we are so grateful for the support we have received that allows us to continue to help thousands of homeless young people across the UK.

“Moving to a virtual event is an example of just one way we have adapted our partnership delivery to ensure we can continue to support vulnerable young people in our services. All donations will allow us to continue to deliver the most effective, practical, and emotional support to homeless young people who need us now more than ever.”

 

To find out more about Centrepoint’s STAY:UP event and get involved, please visit: https://stayup.centrepoint.org.uk/

 

*ONS stats released 15.09.2020: Click here

 

About Centrepoint

  • Centrepoint is the leading charity for homeless young people aged 16-25.
  • Centrepoint supports over 15,000 homeless young people a year.
  • It provides accommodation-based and floating support services in London, Yorkshire, Manchester and the North East. It also runs the Centrepoint Helpline.
  • The Freephone Centrepoint Helpline is for any young person aged 16-25 who is worried about homelessness. It is open Monday to Friday from 9am to 5pm. The Centrepoint Helpline number is: 0808 800 0661.

To get involved sign up here.

Product Change

On Thursday 10 September 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates remain at 31 December.

New Business

Mainstream

- Temporary withdrawal of 2 and 3 year fixed rates products at 60% to 80% LTV

- Temporary withdrawal of 5 year fixed rate product with £999 fee at 85% LTV

- Temporary withdrawal of 5 year fixed rate product with £0 fee at 60% to 80% LTV

Buy to Let

- New product codes issued for all products

Help to Buy

- New product codes issued for all products

Product Switch

Mainstream

- New product codes issued for all products

Buy to Let

- New product codes issued for all products

Help to Buy

- New product codes issued for all products

Product Change

At 5pm on Friday 04 September 2020 we will temporarily withdraw selected mainstream residential products.

New Business

Mainstream

- Temporary withdrawal of 2, 3 and 5 year fixed rates at 90% LTV

- Temporary withdrawal of 2 and 3 year fixed rates at 85% LTV

- Temporary withdrawal of 5 year fixed rate at 85% LTV with £0 product fee

Buy to Let

- No changes

Help to Buy

- No changes

Product Switch

Mainstream

- No changes

Buy to Let

- No changes

Help to Buy

- No changes

Product Change

On Tuesday 01 September 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates extended to 31 December.

New Business

Mainstream

- 2 year fixed rate products with £999 and £0 fee reintroduced with rates starting at 1.25%

- 3 year fixed rate products with £999 and £0 fee reintroduced with rates starting at 1.45%

- NEW 3 year fixed rate products with £1,499 fee introduced for 60% and 90% LTV

- Fixed end dates extended to 31 December

Buy to Let

- 2 year fixed rate products reintroduced with rates starting from 1.44% with a £1,999 fee

- 5 year fixed rate products reintroduced with rates starting from 1.84% with a £1,999 fee

- Fixed end dates extended to 31 December

Help to Buy

- New product codes issued for all products

- Fixed end dates extended to 31 December

Product Switch

Mainstream

- 2 year fixed rates increased by up to 0.06% at 60% to 80% LTV and up to 0.61% at 85% and 90% LTV

- 3 year fixed rates increased by up to 0.13% at 60% to 80% LTV and up to 0.80% at 85% and 90% LTV

- 5 year fixed rates increased by up to 0.13% at 60% to 80% LTV and up to 0.80% at 85% and 90% LTV

- Fixed end dates extended to 31 December

Buy to Let

- 2 year fixed rates reduced by up to 0.15% at 65% to 75% LTV

- 3 year fixed rates temporarily withdrawn

- 5 year fixed rates reduced by up to 0.15% at 65% to 75% LTV

- 2 year fixed rate products with £749 and £0 fee increased by up to 0.23% at 60% LTV

- 2 year fixed rate product with £1,499 fee reduced by up to 0.05% at 60% LTV

- 5 year fixed rates increase by up to 0.10% at 60% LTV

- Fixed end dates extended to 31 December

Help to Buy

- New product codes issued for all products

- Fixed end dates extended to 31 December

Product Change

On Monday 17 August 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates remain at end November.

New Business

Mainstream

- 2 year fixed product with £999 fee 60% to 85% LTV temporarily withdrawn

- 5 year fixed rate products at 90% LTV with £1,499 fee re-introduced with an increase of up to 0.30%

- 5 year fixed rate products with £999 fee at 60% to 80% LTV have increased by up to 0.66%

- 5 year fixed rate product at 60% LTV with £1,499 fee re-introduced with an increase of up to 0.06

- 5 year fixed rate products with zero fee at 60% to 85% LTV re-introduced with increase of up to 0.85%

Buy to Let

- All Buy to Let products temporarily withdrawn

Help to Buy

- 5 year fixed rate zero and £999 fee products at 60% to 75% LTV have increased by up to 0.14%

Product Switch

Mainstream

- New product codes only and no product changes

Buy to Let

- New product codes only and no product changes

Help to Buy

- 2 year fixed rate with £499 product fee at 60% to 75% LTV temporarily withdrawn

- 3 and 5 year fixed rate products at 60% to 75% LTV have increased by up to 0.14%

Product Change

On Friday 7 August 2020 we will re-launch our Mainstream mortgage range for New Business.

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged.

New Business

Mainstream

- Temporary withdrawal of 5 year fixed zero fee product (M2076) at 90% LTV

Buy to Let

- No change

Help to Buy

- Temporary withdrawal of Help to Buy 2 year fixed zero and £999 fee products (H169 & H170) at 60% to 75% LTV

Product Switch

Mainstream

- No change

Buy to Let

- No change

Help to Buy

- No change

Product Change

On Wednesday 5 August 2020 we will re-launch our Mainstream mortgage range for New Business. 

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged.

New Business

Mainstream

- Temporary withdrawal of 3 year fixed rate products

- Temporary withdrawal of 2 year fixed rates with £0 and £299 fee

- Temporary withdrawal of 5 year fixed rates with £1,499 fee

- Temporary withdrawal of 5 year fixed rates at 60% to 85% LTV with £0 fee

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Friday 31 July 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates remain at end November.

New Business

Mainstream

- 2 year and 5 year fixed products with £999 product fee 60% to 85% LTV re-introduced with an increase of up to 0.17%

- 2 year and 5 year fixed products with zero product fee 60% to 85% LTV re-introduced with an increase of up to 0.25%

- 5 year fixed rate product at 90% LTV with zero fee re-introduced with with an increase of up to 0.20%

- 3 year fixed rate product zero fee at 85% LTV increased by 0.10%

Buy to Let

- 3 year fixed rate products reduced by up to 0.40%

Help to Buy

- New product codes only and no product changes

Product Switch

Mainstream

- New product codes only and no product changes

Buy to Let

- 3 year fixed products reduced by up to 0.40%

Help to Buy

- New product codes only and no change to product

Product Change

On Friday 24 July 2020 we will re-launch our Mainstream mortgage range for New Business

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged. 

New Business

Mainstream

- Temporary withdrawal of 2 year fixed £999 fee product (M2047) at 85% LTV

- Temporary withdrawal of 5 year fixed £999 fee product (M2043) from 60% to 80% LTV

- Temporary withdrawal of 5 year fixed £999 fee product (M2051) at 85% LTV

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

We continue to have a technical issue which means you cannot submit your application when a card payment is required. If your application has a homebuyers report or arrangement fee please contact the Mortgage Desk on 0345 070 1999 (Option 1) who will provide assistance. If possible please have the card details to hand when you call and we will process the application and payment for you.

Phone lines are open Monday – Friday 09.00 – 17.00 and on Thursday 10.00 – 17.00.

Product Change

On Wednesday 22 July 2020 we will re-launch our Mainstream mortgage range for New Business

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged. p>

New Business

Mainstream

- Temporary withdrawal of 2 year fixed zero fee product (M2038) from 60% to 80% LTV

- Temporary withdrawal of 2 year fixed zero fee product (M2045) at 85% LTV

- Temporary withdrawal of 5 year fixed zero fee product (M2050) at 85% LTV

- Temporary withdrawal of 5 year fixed zero fee product (M2052) at 90% LTV

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Wednesday 15 July 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching. 

New product codes issued and end dates extended to end November.

New Business

Mainstream

- 2 year and 5 year fixed products with £999 product fee 60% to 85% LTV re-introduced.

- 5 year fixed rate product at 90% LTV with zero fee re-introduced with an increase of 0.30%

- Introduction of 5 year fixed product with £1,499 fee at 60% LTV.

- Selected fixed rate product increases of up to 0.20%

- End dates extended to the end of November.

Buy to Let

- End dates extended to end November

Help to Buy

- End dates extended to end of November

Product Switch

Mainstream

- Fixed rate increases at 75% LTV to 85% LTV of up to 0.15%

- All 90% LTV fixed rate products increased by 0.50%

- End dates extended to end November

Buy to Let

- End dates extended to end November

Help to Buy

- Fixed rate reductions on fee free products of up to 0.20%

- End dates extended to end November

Product Changes

When we announced our 90% LTV products on Wednesday 24th June we referenced that there would be limited availability for these mortgages.

Due to unprecedented demand we have made the decision to pause applications for the 90% LTV fee free range and are now withdrawing it from the market temporarily. However, the 90% LTV fee paying product remains available.

New Business

Mainstream

- Temporary withdrawal of 5 year fixed £0 product fee (M2030) at 90% LTV.

Buy to Let

No change


Help to Buy

No change


Product Switch

Mainstream

No change

Buy to Let

No change
 

Help to Buy

No change

Product Changes

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged.

New Business

Mainstream

- Temporary withdrawal of 2 year fixed £999 product fee (M2016) from 60% to 85% LTV.

- Temporary withdrawal of 5 year fixed £999 product fee (M2023) from 60% to 85% LTV.

Buy to Let

No change


Help to Buy

No change


Product Switch

Mainstream

No change

Buy to Let

No change
 

Help to Buy

No change

Product Change

On Friday 26 June 2020 we will re-launch our Mainstream mortgage range for New Business.

Reintroduction of 90% LTV products for our mainstream new business. All other products launched on Monday 22 June 2020 remain unchanged.

New Business

Mainstream

- 90% LTV 5 year fixed rate products reintroduced

- England & Wales - House purchase and remortgage max 90% LTV

- Scotland - House purchase max 75% LTV, remortgage max 80% LTV. It is expected that physical valuations will recommence in Scotland on Monday 29 June 2020 at which point house purchase and remortgage will be available in Scotland at 90% LTV.

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Help to Buy

- No change

  • From Friday 26 June Platform will offer a limited number of 90% LTV mortgages for those looking to mortgage a property in England or Wales.
  • From Monday 29 June we will be able to offer 90% LTV mortgages to customers in Scotland as physical valuations recommence.

Platform, the intermediary mortgage brand of The Co-operative Bank, will offer a limited number of 90% LTV mortgages from Friday 26 June to support first time buyers and home movers who need a higher LTV to help with their house purchase plans.

Commenting on the re-launch of 90% LTV mortgage products announced by Platform today, Fred Sharp, Head of Intermediary Business said:

“We’re glad to be able to offer our broker partners the choice at 90% LTV mortgages when looking for the best deal for their client’s circumstances. We recognised there is a customer need for this type of mortgage, so we wanted to be able to support this – albeit on a limited basis dependent on demand. We will continue to monitor the appetite for this type of mortgage and we will update our broker partners if we need to make changes to our range.

“We welcome the recommencing of physical valuations in Wales, and from Monday in Scotland, and look forward to working with our broker partners to support their clients across the UK with a good value mortgage deal as we will now be able to make our full range of products available for application.”

The rates for 90% LTV mortgages will be on the Platform website and available for applications from Friday 26 June 2020.

Carolyne Gregory, Head of Retail Lending at The Co-operative Bank said:

“As the market remains limited in the 90% LTV category, we’re pleased to be able to offer this higher LTV lending at a competitive price for customers who need to borrow at this level to help make their house purchase a reality. We’ll keep this offer available for as long as we can, dependent on demand.”

“Separately, we are also continuing to support those customers whose financial circumstances have been impacted by coronavirus. We have already granted mortgage payment deferrals for many of our customers who needed it, and we will continue to review requests for payment deferrals until the end of October. Customers who have already chosen to defer their mortgage payments can also ask for additional support and our team is here to help and talk to customers about what they might need at this challenging time.”

Details of the assistance available to our mortgage customers and the information they need to make a request for a mortgage payment deferral are on our website:

Coronavirus Support for Mortgage Customers.

-Ends-

Notes to Editors:

Mortgages that make a difference – in partnership with youth homelessness charity Centrepoint:
Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. The Co-operative Bank is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter. The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

For further information please contact:

Nicki Parry
The Co-operative Bank
Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk

About The Co-operative Bank

The Co-operative Bank plc provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used. Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

  • From Monday 22 June 2020 Platform’s Help to Buy mortgage range will be available to brokers.
  • 85% LTV mortgages are also being reintroduced for those looking for a mortgage in England.
  • All fixed rate mortgages for house purchases will be reduced from Monday 22 June by up to 0.20 percentage points

Platform, the intermediary mortgage brand of The Co-operative Bank, is reintroducing its Help to Buy mortgage range and also making mortgages of up to 85% LTV available for those looking for a mortgage in England from Monday 22 June 2020.

As the ability to carry out physical valuations is restricted in other parts of the UK, those looking for a mortgage for a property in Scotland or Wales are able to apply for mortgages up to 75% LTV for purchases and up to 80% LTV for remortgages with Platform from Monday.

Commenting on the reintroduction of mortgage products announced by Platform today, Fred Sharp, Head of Intermediary Business said,

“We are continuing to support our broker partners find the right products and best value deals for their clients as they start to get their aspirations of owning a home back on track. Help to Buy is an important part of our product range and we’re glad to have this available from Monday as well as increasing our available mortgages up to 85% LTV for those looking to purchase a house in England.”

As well as reintroducing mortgage products back into the range, Platform is also reducing all fixed rate mortgages for house purchases by up to 0.20 percentage points, all go forward rates are detailed on the Platform website and will be available for applications from Monday 22 June 2020.

Highlights of Platform’s mortgage range include:
1.17 per cent two year fixed rate at 60% LTV with a £999 fee and £250 cashback available
1.54 per cent five year fixed rate at 75% LTV with a £999 fee with £250 cashback available
1.44 per cent two year fixed rate at 80% LTV with a £999 fee with £250 cashback available

Commenting on the reduction to fixed rate mortgages Carolyne Gregory, Head of Retail Lending said:

“At Platform we are committed to helping as many people as we can purchase their first home while also supporting homeowners take their next step on the property ladder or to save money on their monthly mortgage payment. The changes announced today show we are almost back to offering our full range of products and with an across the board reduction to our fixed rate mortgages for house purchases, we are very much open for business.

“We are continuing to monitor the wider market to ensure our remortgage and product switch options remain competitive as we understand that finding the right deal can make a big difference to households navigating a challenging economic landscape. We will support our mortgage customers to find the right mortgage option for their circumstances and their financial situation.”

-Ends-

Notes to Editors

Mortgages that make a difference – in partnership with youth homelessness charity Centrepoint: Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. The Co-operative Bank is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter. The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

For further information please contact:

Nicki Parry
The Co-operative Bank
Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk

About The Co-operative Bank

The Co-operative Bank plc provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used. Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

Product Change

On Monday 22 June 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates extended to end October.

New Business

Mainstream

- 85% LTV fixed rate products reintroduced

- All fixed rate products reduced by up to 0.20%

- End dates extended to end October

- England - House purchase and remortgage max 85% LTV

- Scotland & Wales - House purchase max 75% LTV, Remortgage max 80% LTV

Buy to Let

- Standard Buy to Let fixed rates at 65% to 75% LTV re-introduced for purchase and remortgage in England

- Scotland & Wales - Max LTV for purchase and remortgage remains 60% LTV

- End dates extended to end October

Help to Buy

- Full Help to Buy fixed rate range reintroduced with end dates of end of October

Product Switch

Mainstream

- Selected fixed rate reduction at 60% to 80% LTV of up to 0.17%

- All 5 year fixed rates at 90% LTV and selected 3 year fixed products increased by up to 0.25%

- End dates extended to end October

Buy to Let

- 5 year fixed rates at 70%-75% LTV reduced by 0.10%

- End dates extended to end October

Help to Buy

- Help to Buy product switch products now available via brokers

Platform launches Help to Buy Product Transfers

In response to your feedback we have introduced a new service that will allow brokers to switch their client's maturing Help to Buy mortgage. If your client's Help to Buy product is coming to an end you can now submit a Help to Buy Product Transfer application by completing the form on our Product Transfer page. 

Product Changes – England only

On Wednesday 03 June 2020 we will re-launch house purchase applications at 80% LTV and allow applications for new build property in England.

We are awaiting further guidance on the rest of the UK. In the meantime, please do not submit house purchase applications at 80% LTV or for new build property in Wales or Scotland, as we will not be able to progress the property valuation.

New Business

 Mainstream

- Relaunch house purchase applications at 80% LTV, currently limited to 75% LTV

- Relaunch new build applications on the current range, up to 80% LTV

Product Change

On Wednesday 20 May 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates extended to end September.

New Business

New Business

- Selected fixed rate reductions of up to 0.10%.

- House purchase applications should only be submitted up to 75% LTV

- No New Build applications should be submitted at any LTV

- Tracker products remain temporarily removed.

Buy to Let

- Standard Buy to Let fixed rates at 60% LTV re-introduced for purchase and remortgage.

- New Build not available at this time.

Help to Buy

- All product options remain temporarily withdrawn

Product Switch

Mainstream

- All 5 year fixed rates at 60% LTV and 3 year fixed rate with no fee at 60% LTV reduced by 0.05%

- All fixed rates at 85-90% LTV increased by 0.10%

Buy to Let

- Selected fixed rated at 65%-75% increased by up to 0.10%

- All tracker products temporarily withdrawn

Mortgage valuations

Following the latest Government advice on Sunday 10 May and further clarification along with updated guidelines, our valuation partners will be able to carry out physical inspections of properties in England from Monday 18 May.

We are awaiting further guidance on properties in the rest of the UK and we will continue to carry out desktop valuations where we can.

Our focus over the short term will be to work applications that are currently on hold as quickly and safely as possible, we will complete valuations in date order with the oldest applications being booked first.

Please ensure you advise us of any material changes to your clients’ circumstances. In addition, if your client no longer wants to proceed with the mortgage application please let us know as soon as possible so we can prioritise applications that are progressing.

The safety of our customers and valuers remains our number one priority. Valuations will be completed in line with government guidance and will involve a detailed safety assessment. We understand that some customers will not feel comfortable letting a valuer into the property at this time, where this is the case we will attempt a desktop valuation or place the valuation on hold where this is not possible.

Desktop Valuations Criteria:

  • Residential remortgage and revaluations up to 80% LTV
  • Residential purchase up to 75% LTV
  • Max Property Limit - £1m Greater London and £750k elsewhere

Key exclusions will be:

  • BTL applications above 60% LTV
  • New Build
  • Non-standard construction
  • LTV above 80% for re-mortgage and above 75% for purchase

In a small number of instances, it may not be possible to complete a desktop valuation for cases that meet the criteria outlined.

Unfortunately, due to the nature of homebuyers reports and buildings surveys these instruction types will not be possible at this time.

Product Change

On Friday 03 April 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates extended to end July.

New Business

Mainstream

- Fixed rates between 70% and 80% increased by up to 0.15%

- End dates extended to end July

- Please note: House purchase applications should only be submitted up to 75% LTV

- Please note: No New Build applications should be submitted at any LTV

- Tracker products remain temporarily removed.

Buy to Let

- All product options remain temporarily withdrawn

Help to Buy

- All product options remain temporarily withdrawn

Product Switch

Mainstream

- No pricing changes

Buy to Let

- No pricing changes

Product withdrawal

From close of business on Friday 27th March we will update our Mainstream, Help to Buy and Buy to Let mortgage ranges for New Business.

Following the latest Government advice around social distancing, our valuation partners are unable to inspect properties; this means some mortgage applications cannot progress while this type of valuation is unavailable. 

To ensure customers are only able to make applications for mortgages that can be completed during this time, we are making some changes to our range to only offer mortgage products that don’t require a physical valuation to be carried out. This is a temporary change whilst there are no physical valuations available. We will continue to review our product range and ensure we’re offering as much choice to borrowers as possible while continuing to act as a responsible lender.

Product codes and end dates remain unchanged across the range.

New Business

Mainstream

- LTV options greater than 80% will be temporarily withdrawn;

Please note: House purchase applications should only be submitted up to 75% LTV
Please note: New Build applications should not be submitted at any LTV

- All tracker products will be temporarily withdrawn.

Buy to Let

- All product options temporarily withdrawn.

Help to Buy

- All product options temporarily withdrawn.

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Wednesday 25 March 2020 we will update our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching to reflect the change in Bank of England Base rate.

Fixed rate end dates unchanged. All Product codes changed.

New Business

Mainstream

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

- SVR reduced to 4.34%

Buy to Let

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

Help to Buy

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

- SVR reduced to 4.34%

Product Switch

Mainstream

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

- SVR reduced to 4.34%

Buy to Let

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

On 19th March 2020, the Bank of England base rate decreased from 0.25% to 0.10% - find out more.

Product Change

On Monday 16 March 2020 we will update our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching to reflect the change in Bank of England Base rate.

Fixed rate end dates unchanged. Product codes unchanged.

New Business

Mainstream
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Buy to Let
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Help to Buy
- SVR reduced by 0.50% to 4.49%

Product Switch

Mainstream
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Buy to Let
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Bank of England base rate change

On 11th March 2020, the Bank of England base rate decreased from 0.75% to 0.25% - find out more.

The Co-operative Bank is pleased to announce the further development of its mortgages team with two key senior appointments.

 

Fred Sharp joins as Head of Intermediaries for the bank’s Platform mortgage brand. Fred joins from CYBG where over a ten-year period he held a series of senior leadership roles, most recently as Head of Mortgage Distribution. Fred will join the Co-operative Bank at the start of April, and his remit will be to build on and strengthen existing strategic relationships with brokers and corporate partners. He will be responsible for continuing ongoing new business momentum for Platform, to achieve sustainable growth through 2020 and beyond in what continues to be an intensely competitive market.

Last week the Co-operative Bank reported a resilient performance for its mortgage business in 2019, despite market competition, with 5 per cent net growth in mortgage balances, reflecting £3.8bn of gross new mortgage lending. The Bank attributed this to its strong relationships with brokers and agile pricing.

The Co-operative Bank has also promoted Carolyne Gregory to the role of Head of Retail Lending, responsible for developing and delivering the Bank’s retail lending strategy. A product and commercial leader specialising in mortgages, Carolyne has spearheaded key product initiatives and held senior leadership roles over a number of years at The Co-operative Bank, since joining from HSBC in 2014.

 

Darrell Evans, Chief Commercial Officer at The Co-operative Bank said,

“I am delighted that Fred has decided to join The Co-operative Bank, and I am looking forward to working with him and Carolyne. We see significant opportunities for further growth in our intermediary mortgage business and our mortgage leadership team will seek to maintain the momentum that we established through 2019 and build on our successful performance of last year.

“The mortgage market remains highly competitive. Our focus will be to maintain our high levels of service and continue to offer good value mortgage products, as well as improving our systems and processes to make placing business with us faster and easier for brokers.

“As we develop our product agenda, we will continue to reflect the ethical differences that set The Co-operative Bank apart from others in the market as we look to acquire new business throughout 2020. As the original ethical bank and the only UK high street bank with a customer-led ethical policy, we will continue to support the causes that matter most to our customers, including tackling youth homelessness with Centrepoint by making a donation for every new mortgage or mortgage switch completed.”

 

-Ends-

Notes to Editors:

Images of Platform leadership available on request.

 

Fred Sharp

Fred has more than 15 years of experience leading teams in the mortgages sector. He has an outstanding record of delivering sales results and change management. He held a number of senior roles at CYBG over 10 years including Head of Intermediary Mortgage Distribution. His last role was as Head of Mortgage Distribution for CYBG and he now joins The Co-operative Bank as Head of Intermediaries.

Carolyne Gregory

Carolyne joined The Co-operative Bank in November 2014 from HSBC Bank PLC where she held roles at both first direct and HSBC spanning across Credit Risk and Product Management. With over a decade of experience in financial services and specialising in Mortgages, Carolyne has spearheaded key product initiatives and held strategic management roles over a number of years at The Co-operative Bank before she was promoted to her current role as Head of Retail Lending at the end of 2019.

Darrell Evans

Darrell joined the Co-operative Bank in January 2018 and he is currently the Chief Commercial Officer. Darrell has significant experience in; financial services, strategy, marketing and operations and spent the first part of his career at Royal Bank of Scotland plc. There he was Managing Director, Mortgages, Loans and Retail Telephony in the retail banking division responsible for all aspects of the Group’s mortgage proposition. Prior to that, he was Product Director for RBS retail bank. Darrell has also held senior executive roles at Direct Line Insurance Group plc, Virgin Money plc and The Consulting Consortium where he was CEO. Darrell also holds a non-executive role in the property services sector.

Mortgages that make a difference – in partnership with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. The Co-operative Bank is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer, and existing customer, product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

 

For further information please contact:

Nicki Parry

The Co-operative Bank

Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk  

 

About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used.  Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

Product Change

On Friday 28 February 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end June. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rates with fees increased by 0.05%.

- All 95% LTV rates reduced to be now all at 3.00%.

Buy to Let

- Selected fixed rates reduced by up to 0.10%

Help to Buy

- No change

Product Switch

Mainstream

- Selected fixed rates increased by up to 0.20%

Buy to Let

- Selected fixed rates reduced by up to 0.10%

We are currently experiencing a technical issue and we are unable to take card payments for mortgage applications. If your application requires a fee to be paid please contact the Mortgage Desk on 0345 070 1999 (Option 1) who will provide assistance.

Phone lines are open Monday – Friday 09.00 – 17.00 and on Thursday 10.00 – 17.00. 

Apologies for any inconvenience caused while we are working to resolve the issue.

Product Change

On Wednesday 12 February 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain unchanged. New product codes will be issued for all products.

New Business

Mainstream

- 2 year fixed rate with £299 fee reduced by 0.05% at 60%, 70% and 75% LTV

- All other 2 year fixed and 3 & 5 year fixed rates with £999 fee at 60%-90% LTV reduced by 0.05%

- 2 year fixed rate at 95% LTV increased by 0.03%

- 2, 3 and 5 year fixed rates with £0 fee at 60%-90% LTV increased by 0.05%

Buy to Let

- No change

Help to Buy

- 2 and 5 year fixed rates with £999 fee reduced by 0.05%

Product Switch

Mainstream

- All 2, 3 and 5 year fixed rates with a fee payable reduced by 0.05%

- All 2, 3 and 5 year fixed rates with a £0 fee increased by 0.05%

Buy to Let

- No change

Product Change

On Wednesday 29 January 2020 we will make a minor change to our Mainstream mortgage range for New Business.

New Business

Mainstream

- M1928 2 year fixed rate 60-90% LTV zero fee products temporarily withdrawn.

Product Change

On Wednesday 15 January 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end April. New product codes will be issued for all products.

New Business

Mainstream

- 5 year fixed rate no fee 90% LTV reintroduced with 0.05% increase

- All tracker products aligned to the same rate for each product in 60%-75% LTV bands.

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- Selected fixed rates up to 75% LTV reduced by up to 0.10% aligning to the same rate for each product in 60%-75% LTV bands.

- All tracker products aligned to the same rate for each product in 60%-75% LTV bands.

Buy to Let

- No change

Product Change

On Thursday 9 January 2020 we will make a minor change to our Mainstream mortgage range for New Business.

New Business

Mainstream

- 5 year fixed rate with no fee at 90% LTV temporarily withdrawn.

It’s a well-reported fact that many young people across the UK continue to struggle with access to affordable housing and are forced into homelessness.

As a mortgage lender with strong values and ethics, Platform, part of The Co-operative Bank, see it as their duty to help to end youth homelessness – and their partnership with Centrepoint is key to that. With every mortgage completion* they make a donation to the Centrepoint Helpline – so it really is thanks to you that they are able to make a difference when you place business through Platform.

Centrepoint has been helping vulnerable young people for 50 years and demand for their services has definitely not eased over the years. In the first ten months of 2019, the Centrepoint Helpline received over 8,000 calls and provided 4,543 young people with advice and guidance on housing issues.

As well as supporting Centrepoint through our mortgage donation, The Co-operative Bank also supported the charity’s Manchester Sleep Out for the third year running in November 2019, an event which raised over £84,000 to continue funding the charity’s work with vulnerable young people in our home city and beyond.  

 

Find out more from Platform and their work with Centrepoint 

*New mortgage customer applications and existing mortgage customer product switch applications received from 2 May 2018 up to and including 31 December 2020 will be eligible for a £5 donation, on completion of the mortgage or product switch (as the case may be).  Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the Centrepoint charity donation at this time.  The Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  

The £5 donation will be made for each eligible mortgage sold through direct and intermediary channels i.e. it applies to the Bank’s Britannia and Platform branded mortgages. Britannia and Platform are trading names of The Co-operative Bank p.l.c. The Bank reserves the right to change or withdraw the donation arrangement at any time.

Centrepoint is a registered charity in England and Wales, No. 292411

Product Change

On Wednesday 11 December 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain at end February. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rates at 80% to 95% LTV reduced by up to 0.10%

Buy to Let

- All BTL fixed rates reduced by 0.05%

Help to Buy

- 5 year fixed rates reduced by up to 0.10%

Product Switch

Mainstream

- Selected fixed rates at 80% to 90% LTV reduced by up to 0.10%

- 3 year fixed rates at 60% LTV increased by up to 0.10%

Buy to Let

- All BTL fixed rates reduced by 0.05%

Product Change

On Monday 18 November 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end February. New product codes will be issued for all products.

New Business

Mainstream

- Selected 2 year fixed rates up to 75% LTV increased by up to 0.10%

- 5 year fixed rate with £999 product fee at 60% LTV increased by 0.05%

- Selected 3 and 5 year fixed rates up to 90% LTV reduced by up to 0.10%

- 95% LTV rates reduced by up to 0.20%

Buy to Let

- All fixed rates reduced by 0.05%

Help to Buy

- No change

Product Switch

Mainstream

- Selected 2 year fixed rates up to 75% LTV increased by up to 0.10%

- 5 year fixed rates with a product fee at 60% LTV increased by 0.05%

- Selected 3 and 5 year fixed rates up to 90% LTV reduced by up to 0.10%

Buy to Let

- All fixed rates reduced by 0.05%

Product Change

On Monday 28 October 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain at end January. New product codes will be issued for all products to support the policy change.

New Business

Mainstream

- No change

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Monday 14 October 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain at end January. New product codes will be issued for all products.

New Business

Mainstream

- Rate reductions of up to 0.10% on all fee-paying fixed rate products at 60-85% LTV

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- Rate reductions of up to 0.10% on all fee-paying fixed rate products at 60-85% LTV

Buy to Let

- No change

Product Change

On Tuesday 24 September 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end January. New product codes will be issued for all products.

New Business

Mainstream

- 2 and 5 year fixed rate 95% LTV reintroduced with 0.15% increase

- 3 year fixed rate 95% LTV increased by 0.10%

Buy To Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product change

On Friday 13 September 2019 we will be updating our Platform Mainstream products. Fixed rate end dates unchanged. Product codes unchanged.

New Business

Mainstream

- 5 year fixed rate 95% LTV temporarily withdrawn

Buy to Let

- No change

Help to Buy

No change

Product Switch

 Mainstream

No change

Buy to Let

No change

Product change

On Thursday 05 September 2019 we will be updating our Platform Mainstream products.

New Business

Mainstream

- 2 year fixed rate 95% LTV temporarily withdrawn

Buy to Let

- No change

Help to Buy

No change

Product Switch

 Mainstream

No change

Buy to Let

No change

Product change

On Friday 30 August 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products.

New Business

Mainstream

- All 2 year fixed rates up to 75% LTV reduced by 0.05%
- Selected 3 year fixed rates reduced by up to 0.12%
- Selected 5 year fixed rates reduced by up to 0.12%

Buy to Let

- All BTL rates reduced by 0.05%

Help to Buy

- All rates reduced by 0.05%

Product Switch

 Mainstream

- All 2 year fixed rates up to 75% LTV reduced by 0.05%
- Selected 3 year fixed rates reduced by up to 0.12%
- Selected 5 year fixed rates reduced by up to 0.12%

Buy to Let

- All BTL 2 and 5 year fixed rates reduced by 0.05%
- Selected 3 year fixed rates reduced by 0.05%

Product change

On Monday 19 August 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products.

New Business

Mainstream

- All 95% LTV fee paying products remain temporarily withdrawn
- All 2 year fixed rates up to 80% LTV reduced by 0.05%
- 3 year fixed rates with fees up to 75% LTV reduced by 0.05%
- 5 year fixed rates with fees up to 75% LTV reduced by 0.03%

Buy to Let

- All 5 year fixed rates reduced by 0.05%

Help to Buy

- All 5 year fixed rates reduced by 0.05%

Product Switch

 Mainstream

- All 2 year fixed rates up to 80% LTV reduced by 0.05%
- 3 year fixed rates with fees up to 75% LTV reduced by 0.05%
- 5 year fixed rates with fees up to 75% LTV reduced by 0.03%

Buy to Let

- All 5 year fixed rates reduced by 0.05%

Product change

On Tuesday 13 August 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end November. New product codes will be issued for all products.

New Business

Mainstream

- All 95% LTV £999 fee products temporarily withdrawn
- All 95% LTV zero fee products reduced by up to 0.07%

Buy to Let

- No rate changes

Help to Buy

- No rate changes

 

Product Switch

 Mainstream

- No rate changes

Buy to Let

- No rate changes

Platform’s BDM team continues to be voted best for service in latest satisfaction survey results

Platform, the intermediary mortgage brand of The Co-operative Bank, is proud to be continuing to deliver great service for broker partners as the latest results of the BVA BDRC survey show*.

The externally carried out satisfaction survey found that the Platform Business Development Management (BDM) team have increased their satisfaction score during the first half of 2019 in areas such as;

- The accessibility of the BDM team and;
- The overall service of the BDM team.

In this latest set of results the overall score was 89 per cent satisfaction for the BDM team up from 80 per cent for the same period in 2018. The team has worked hard to ensure that despite increased volumes, service has remained strong and achieved a Net Promoter Score that is currently 36+, and up from 30+ for the same period in 2018.

Neil Wyatt, Head of Intermediary Distribution at Platform said; “I’m very proud that even with the increased demand that we’ve seen for mortgage business during 2019 we’ve met that challenge successfully. We really hit the ground running at the beginning of 2019 as we wanted to build on all that we had achieved throughout last year. I’m really pleased that we’ve been able to continue to deliver a high standard of both service and support for our broker partners, and we will be working to ensure that this is something we can maintain through the rest of this year and beyond.”

Throughout 2019 The Co-operative Bank and Platform will continue to support youth homelessness Charity Centrepoint. Homelessness is an issue that has been really focused on in the mortgage industry with fundraising events taking place at the end of 2018, including The Co-operative Bank’s sponsorship of Centrepoint’s Manchester Sleep Out.

Neil Wyatt continued: “We hope that our broker customers and corporate partners will be able to support us with our work with Centrepoint through 2019. For every new mortgage or product switch completed The Co-operative Bank donates £5 to Centrepoint. By choosing to complete mortgages with us our broker partners and their clients are helping to tackle the issue of youth homelessness and help vulnerable young people in crisis.”

Mortgages that make a difference - partnering with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. In May 2017 we partnered with youth homelessness charity Centrepoint to support their vital work by making a donation on behalf of each new mortgage customer and through colleague fundraising. In May 2018 the mortgage charity donation was extended to include product switch/ product transfer customers.

The Co-operative Bank plc is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

-Ends-

Notes to Editors:
*Platform broker satisfaction survey conducted and prepared by BVA BDRC. The methodology is:

- 20-minute telephone interviews with intermediaries who had recently submitted mortgage cases to Platform
- 200 interviews were completed with intermediaries from a sample list provided by Platform
- Fieldwork carried out across March, April and May 2019

Platform's current Net Promoter Score is +36, up from +30 for the same period of 2018.

For further information please contact:

Nicki Parry
The Co-operative Bank
Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk

About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to around four million retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used.  Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

- Select new mortgages across our mainstream, Buy-to-let and Help to Buy range have been reduced by up to 0.10 percentage points.
- Platform continues to offer highly competitive and in some cases market leading help to buy mortgage deals.
- Select product switch mortgages have been reduced by up to 0.15 percentage points.

Platform, the intermediary mortgage brand of The Co-operative Bank, has today reduced interest rates across a range of mortgage products, with some mortgages reduced by up to 0.15 percentage points. 

Platform continues its commitment to support first time buyers with competitive deals across its Help to buy Range with some market leading deals now available. Highlights include;

- Market leading two year fixed rate help to buy mortgage at 60% and 75% LTV at 1.59 per cent with a £999 fee;
- Market leading five year fixed rate help to buy mortgage at 60% and 75% LTV at 1.99 per cent with a £999 fee;
- Two year fixed rate help to buy mortgage at 60% and 75% LTV at 2.04 per cent with a £0 fee;
- Market leading five year fixed rate help to buy mortgage at 60% at 2.19 per cent with a £0 fee;
- Five year fixed rate help to buy mortgage at 75% LTV at 2.24 per cent with a £0 fee.

Other highlights of the newly reduced mortgage range include;
- Five year fixed rate mortgage at 60% LTV at 1.79 per cent with a £999 fee;
- Five year fixed rate mortgage at 60% LTV with a market leading rate of 1.94 per cent with a £0 fee;
- Market leading five year fixed rate buy-to-let mortgage at 60% LTV at 2.14 per cent with a £0 fee.

All with the benefit of free standard valuation for purchase and remortgage. Free standard legals are also available for remortgage. For full details visit: www.platform.co.uk

Neil Wyatt, Head of Mortgage distribution for Platform said: “We continue to review the interest rates we offer across our range of mortgages to ensure we’re offering competitive deals for broker clients looking for the right mortgage for their needs and we remain committed to having a competitive range of mortgages for first time buyers looking to get on to the property ladder and are pleased to be offering a number of best in market Help to Buy mortgage deals.

 

“We have always had a policy of offering preferential rates for our existing customers and this price change means we now have a number of deals that are best in market for our existing customers to benefit from. We want customers to pick a competitive deal from us and know that they will still be offered a great deal when they’re looking to switch their mortgage. We do value our loyal customers and want work with our broker partners to keep their clients’ business for the long term.”

 

As Platform is the intermediary mortgage brand of The Co-operative Bank, Platform is committed to The Co-operative Bank's unique customer led Ethical Policy. The Co-operative Bank and Platform continue to support youth homelessness Charity Centrepoint. A £5 donation is made by The Co-operative Bank in respect of every Platform branded new mortgage and existing customer product switch application received which proceeds to completion.

 

Mortgages that make a difference - partnering with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. In May 2017 we partnered with youth homelessness charity Centrepoint to support their vital work by making a donation on behalf of each new mortgage customer and through colleague fundraising. In May 2018 the mortgage charity donation was extended to include product switch/ product transfer customers.

 

The Co-operative Bank plc is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.


 

 

-Ends-

Notes to Editors:

Mortgage rates correct as at 9:00am Friday, 12 July, 2019

For full details of Platform’s mortgage range please go to www.platform.co.uk

 

For further information please contact:

 

Nicki Parry

The Co-operative Bank

Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk  

 

 

Product change

On Friday 12 July 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products. 

New Business

Mainstream

- Selected fixed rates reduced by up to 0.10%

Buy to Let

- Selected 5 Year fixed rates reduced by up to 0.10%

Help to Buy

- All Fixed Rates reduced by up to 0.10%

Product Switch

Mainstream

- Selected fixed rates reduced by up to 0.15%

Buy to Let

- Selected 5 year fixed rates reduced by up to 0.10%

Platform reduces interest rates on select Help to Buy mortgages

- Platform’s five year fixed rate Help to Buy mortgages have been reduced by 0.10 percentage points
- Platform continues supporting first time buyers with good value mortgage deals


Today (Monday, 24 June, 2019), Platform; the intermediary mortgage brand of The Co-operative Bank, has reduced the interest rate of its five year fixed rate Help to Buy mortgages by 0.10 percentage points.

Adhering to the Government Help to Buy scheme terms and conditions as standard; the already competitive Platform Help to Buy range is available up to a maximum 75% LTV and over a maximum term of 40 years for both first time buyers and homeowners.

Platform’s Help to Buy mortgages are available at either 60 per cent or 75 per cent LTV and are fixed for either a two or five year term. Products either have a £999 arrangement fee with no administration fee or are fee free for borrowers. 

Highlights of the changes being made today include*:

- 04 per cent five year fixed rate mortgage at 60 per cent LTV with a £999 arrangement fee;
- 09 per cent five year fixed rate mortgage at 75 per cent LTV with a £999 arrangement fee;
- 24 per cent five year fixed rate mortgage at 60 per cent LTV with a £0 arrangement fee;
- 29 per cent five year fixed rate mortgage at 75 per cent LTV with a £0 arrangement fee.

All of Platform’s Help to Buy mortgages are available with £500 cashback and free mortgage valuation.

Neil Wyatt, Head of Intermediary Distribution for Platform said: “At Platform we’re continuing to support the first time buyer market by reducing select interest rates within our already competitive Help to Buy mortgage range. 

“We are working with more and more broker partners as they look for the best value deal for their clients looking to buy their first home and we will continue to support and service brokers looking to place a Help to Buy mortgage with Platform.”  

For full details of Platform’s mortgage range please go to www.platform.co.uk

Mortgages that make a difference - partnering with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. In May 2017 we partnered with youth homelessness charity Centrepoint to support their vital work by making a donation on behalf of each new mortgage customer and through colleague fundraising. In May 2018 the mortgage charity donation was extended to include product switch/ product transfer customers. 

The Co-operative Bank plc is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

.

 -Ends-

 

 

*All rates correct as of 9am Monday 24th June 2019

 

For further information please contact:

 

Nicki Parry

The Co-operative Bank

Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk  

 

About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to around four million retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used.  Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

Product change

On Monday 24 June 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rates reduced by 0.05%

Buy to Let

- 5 Year fixed rates with zero fee reduced by 0.10%

Help to Buy

- 5 Year fixed rates reduced by 0.10%

 

Product Switch

 Mainstream

- Selected fixed rates reduced by 0.05%

Buy to Let

- 5 Year fixed rates with zero fee reduced by 0.10%

Product change

On Friday 07 June 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end September. New product codes will be issued for all products. 

New Business

Mainstream

- 2 year fixed rate with £0 fee at 60%, 70% & 75% LTV reduced by 0.05%
- 5 year fixed rate with £0 fee at 70% & 75% LTV reduced by 0.05%
- 2 year fixed rate at 90% LTV with £299 fee increased by 0.05%
- 2 year fixed rate at 95% LTV with £0 fee increased by 0.10%

Buy to Let 

- 2 year fixed rates with £1,999 and £999 fee reduced by up to 0.15%
- 3 year fixed rates with £1,999 and £999 fee reduced by up to 0.10%
- 5 year fixed rates with £1,999 and £999 fee reduced by up to 0.15%

Help to Buy 

- New product codes only issued for all products

Product Switch

Mainstream

- 2 year fixed rate with £0 fee at 60%, 70% & 75% LTV reduced by 0.05%
- 5 year fixed rate with £0 fee at 70% & 75% LTV reduced by 0.05%

Buy to Let 

- 2 year fixed rates with £1,499 and £799 fee reduced by up to 0.10%
- 3 year fixed rates with £1,499 and £799 fee reduced by up to 0.05%
- 5 year fixed rates with £1,499 and £799 fee reduced by up to 0.10%

Product change

On Friday 10 May 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end August. New product codes will be issued for all products.

New Business

Mainstream

- 3 & 5 year fixed rates with £1499 fee temporarily withdrawn.
- 2 year fixed rate at 60% LTV with zero fee increased by 0.05%
- 5 year fixed rate at 60% LTV with £999 fee increased by 0.05%
- Selected 3 year fixed rates reduced by up to 0.10%
- New product codes issued for all products
- End dates extended to end August

Buy to Let 

- Selected Buy to Let fixed rates at 60% & 65% LTV reduced by up to 0.10%
- New Product Codes issued for the entire range
- End dates extended to end August

Help to Buy 

- New product codes issued for all products
- End dates extended to end August

Product Switch

Mainstream

- Selected 3 year fixed rates at 60% LTV reduced by 0.05%
- New product codes issued for all products
- End dates extended to end August

Buy to Let 

- Selected fixed rates reduced by up to 0.10%
- New Product Codes issued for the entire range
- End dates extended to end August

Reset your Click password

If you have forgotten the password for your Click account, please click here to reset it.

A password reset instruction and verification email will be sent to your registered email address. If you do not receive the email within 30 mins, please contact the Broker Support Team on 0345 070 1999 Monday-Friday between 09:00-17:00 (Thursday 10:00-17:00).

Product change

On Friday 12 April 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain unchanged. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rate reductions of up to 0.10%

Buy to Let 

- Buy to Let fixed rates with zero fee at 60% LTV reduced by 0.05%

Help to Buy 

- Fixed rates with zero fee reduced by 0.05%

Product Switch

Mainstream

- 5 year fixed rates at 60% LTV reduced by 0.05%

Buy to Let 

- 2 year fixed rate with zero fee at 60% reduced by 0.05%

Product change

On Monday 01 April 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end June. New product codes will be issued for all products.

New Business

Mainstream

- 2 year fixed rate products with zero fee and £299 fee reduced by 0.05%

- 3 year fixed rate products with zero fee reduced by 0.05%

- All 5 year fixed rate products reduced by 0.05%

- All 95% LTV fixed rate products reduced by up to 0.15%

Buy to Let 
- 2 and 5 year fixed rate products with zero fee between 65% & 75% reduced by 0.05%, excluding Premier products

Help to Buy 
- All products reduced by 0.05%

Product Switch

Mainstream

- All fixed rate products reduced by 0.05%

Buy to Let 
- No change

Product change

On Thursday 28 February 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New Business

Mainstream

- All fixed rate products increased by 0.05%

Buy to Let 

- All Buy to Let fixed rate products increased by 0.05%, excluding Premier products

Help to Buy 

- All products increased by 0.05%

Product Switch

Mainstream

- No change

Buy to Let 

- No change

Product change

On Monday 18 February 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates are extended to 31 May. New product codes will be issued for all products.

New Business

Mainstream

- 2 year fixed rates £999 fee 90% LTV increased by 0.05%

- 2 year fixed rates £0 fee 90% LTV increased by 0.10%

Buy to Let 

- 2 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

- 5 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

Help to Buy 

- No change

Product Switch

Mainstream

- 2 year fixed rates fee paying 90% LTV increased by 0.05%

- 2 year fixed rates £0 fee 90% LTV increased by 0.10%

Buy to Let 

- 2 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

- 5 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

Product change

On Monday 28 January 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes have been issued for all products to support system changes, however product rates, fees, fixed end dates and features remain unchanged.

Product Change - Friday 18th January

On Friday 18 January 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates are extended to 30 April. New product codes will be issued for all products.

New Business

Mainstream

- Selected 2 & 5 year fixed rates at 60% and 90% LTV reduced by up to 0.10%

- 2, 3 & 5 year fixed rates at 95% LTV reduced by up to 0.10%

Help to Buy 

- End dates extended to 30 April and new product codes issued

Buy to Let 

- 5 year fixed rates at 60% LTV reduced by 0.10%

Product Switch

Mainstream

- Selected 2 & 5 year fixed rates at 60% and 90% LTV reduced by up to 0.10%

Buy to Let 

- 5 year fixed rates at 60% LTV reduced by 0.10%

On Monday 26th October Platform will remove the £500,000 maximum loan limit to qualify for fees assisted remortgages. The only restriction that will remain in place is the exclusion of unencumbered properties as well as standard Platform LTV restrictions.

Where appropriate, our conveyancing partners will be able to utilise the England & Wales Land Registry E-Deed service for the fees assisted remortgage proposition, but in order for it to run smoothly it is critical that we receive a customer email address as part of the application process. Please ensure you include customer email addresses on the application form, where available, for both applicants so that they can benefit from this improved service.

Our conveyancing partner O’Neill Patient can also offer an online app to make the remortgage process easier providing the customer has an email address. The online app benefits include:

  • Completion of the questionnaire via the app (meaning client can receive this very quickly after instruction and can complete on the go rather than waiting to complete paper documentation)
  • Messaging service via the app to keep all messages and documents stored in one place
  • To upload and share additional documentation securely such as ID, Bank statements etc which can be taken as a photo and uploaded.
  • Full case milestone updates available showing progress of the transaction and information regarding what each step means.
    We hope you and your customers will benefit from this improvement to our fees assisted remortgage proposition.

Finally, to help your cases progress to offer as quickly and smoothly as possible, please check our website www.platform.co.uk where we have included some additional hints and tips.

Thanks for your support.

The Platform Team

Product Change

On Friday 23 October 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates extended to 31 January.

New Business

Mainstream

- 5 year fixed rate at 60% to 80% LTV increased by up to 0.13%

- New product codes issued for all products

- End dates extended to end January

Product Switch

Mainstream

- New product codes issued for all products

- End dates extended to end January

Buy to Let

- New product codes issued for all products

- End dates extended to end January

Help to Buy

- New product codes issued for all products

- End dates extended to end January

Product Change

On Friday 25 September 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates remain at 31 December.

New Business

Mainstream

- 5 year fixed rate products at 70% to 80% LTV with £999 fee increased by up to 0.33%

Buy to Let

- All new business Buy to Let products temporarily withdrawn

Help to Buy

- All new business Help to Buy products temporarily withdrawn

Product Switch

Mainstream

- 2, 3 and 5 year fixed rate products at 60% to 75% LTV reduced by up to 0.28%

- 2 year fixed rate products at 80% and 90% LTV increased by up to 0.16%

- 3 and 5 year fixed rate products at 80% LTV with £0 fee increased by 0.04%

- 3 and 5 year fixed rate products at 80% LTV with £1,249 fee reduced by 0.03%

- 3 and 5 year fixed rate products at 85% LTV reduced by 0.29%

Buy to Let

- New product codes issued for all products

Help to Buy

- New product codes issued for all products

Platform supports new fundraising event for homeless young people – as 78% of councils see increase in homelessness

We’re delighted to announce that as part of The Co-operative Bank, Platform will be supporting Centrepoint’s new flagship fundraising event, STAY:UP.

The mass participation event, which for 2020 replaces the charity’s long-running annual Sleep Out, asks participants to go just one night without sleep to raise awareness of both the challenge to homeless young people of having to go without sleep when they have nowhere safe to rest their head, but also to raise much needed funds to be used to help homeless young people across the UK.

Centrepoint estimates that over 100,000 young people in the UK were homeless, or at risk of homelessness, in 2018/19. Now, in the wake of the Coronavirus pandemic, Centrepoint research has revealed that 78% of local councils across England have seen an increase in homelessness* and there has been a 50% increase in calls to the Centrepoint Helpline from young people who are facing homelessness.

In addition to this, figures released by the Office for National Statistics (ONS) show that over the last quarter (May-July 2020), there has been a significant fall in the number of young people in employment. The number of people aged 16 to 24 years in employment decreased by 156,000 to 3.63 million, and this includes a record fall of 146,000 for those aged 18 to 24 years.

All donations raised by STAY:UP participants will go directly towards supporting homeless young people with safe and stable accommodation, the skills needed to live independently, support with their physical and mental health and access to training and education.

The new event challenges participants to stay up all night – between 8 am and 8 pm – on the night of 8 October. Participants can walk, game, bake or simply try to stay awake during a virtual content stream, that includes a performance from The Vamps, a cooking demo with Ching He Huang and much more.

Alongside participants’ own activity the charity will be sharing pictures, videos and insights throughout the night on Centrepoint’s Instagram profile, @CentrepointUK.

Platform and Co-operative Bank staff will be taking on physical challenges as well as staying up to help the charity to reach its £500,000 target for the event. Together with their customers, Platform and The Co-operative Bank have raised £1.5 million to support homeless young people since the start of the charity partnership in 2017. 

Darrell Evans, Managing Director, Retail Banking at The Co-operative Bank said: “The issue of youth homelessness in the UK was at crisis point even before the pandemic, and with the additional consequences of lockdown it’s clear that the impact on young people who were already struggling is significant and we may see the effects of that for a long time to come.

“It’s vital that we take as much action as we can now to try to counteract this. Some of these vulnerable young people aren’t always visible in our communities but they desperately need support services and opportunities for them to get education and training that might help keep them safe and have a better life in the future. We are committed to supporting this event and many of us at the Co-operative Bank will be taking part to raise much needed funds whilst also highlighting the struggles of homeless young people in the UK and what we can do to make a difference.”

 

Lucy Coleman, Centrepoint’s Senior Corporate Development Manager, said: “We’re immensely grateful for the ongoing support from The Co-operative Bank. Coronavirus has perhaps been the biggest challenge Centrepoint has ever faced, and we are so grateful for the support we have received that allows us to continue to help thousands of homeless young people across the UK.

“Moving to a virtual event is an example of just one way we have adapted our partnership delivery to ensure we can continue to support vulnerable young people in our services. All donations will allow us to continue to deliver the most effective, practical, and emotional support to homeless young people who need us now more than ever.”

 

To find out more about Centrepoint’s STAY:UP event and get involved, please visit: https://stayup.centrepoint.org.uk/

 

*ONS stats released 15.09.2020: Click here

 

About Centrepoint

  • Centrepoint is the leading charity for homeless young people aged 16-25.
  • Centrepoint supports over 15,000 homeless young people a year.
  • It provides accommodation-based and floating support services in London, Yorkshire, Manchester and the North East. It also runs the Centrepoint Helpline.
  • The Freephone Centrepoint Helpline is for any young person aged 16-25 who is worried about homelessness. It is open Monday to Friday from 9am to 5pm. The Centrepoint Helpline number is: 0808 800 0661.

To get involved sign up here.

Product Change

On Thursday 10 September 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates remain at 31 December.

New Business

Mainstream

- Temporary withdrawal of 2 and 3 year fixed rates products at 60% to 80% LTV

- Temporary withdrawal of 5 year fixed rate product with £999 fee at 85% LTV

- Temporary withdrawal of 5 year fixed rate product with £0 fee at 60% to 80% LTV

Buy to Let

- New product codes issued for all products

Help to Buy

- New product codes issued for all products

Product Switch

Mainstream

- New product codes issued for all products

Buy to Let

- New product codes issued for all products

Help to Buy

- New product codes issued for all products

Product Change

At 5pm on Friday 04 September 2020 we will temporarily withdraw selected mainstream residential products.

New Business

Mainstream

- Temporary withdrawal of 2, 3 and 5 year fixed rates at 90% LTV

- Temporary withdrawal of 2 and 3 year fixed rates at 85% LTV

- Temporary withdrawal of 5 year fixed rate at 85% LTV with £0 product fee

Buy to Let

- No changes

Help to Buy

- No changes

Product Switch

Mainstream

- No changes

Buy to Let

- No changes

Help to Buy

- No changes

Product Change

On Tuesday 01 September 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued for all products and end dates extended to 31 December.

New Business

Mainstream

- 2 year fixed rate products with £999 and £0 fee reintroduced with rates starting at 1.25%

- 3 year fixed rate products with £999 and £0 fee reintroduced with rates starting at 1.45%

- NEW 3 year fixed rate products with £1,499 fee introduced for 60% and 90% LTV

- Fixed end dates extended to 31 December

Buy to Let

- 2 year fixed rate products reintroduced with rates starting from 1.44% with a £1,999 fee

- 5 year fixed rate products reintroduced with rates starting from 1.84% with a £1,999 fee

- Fixed end dates extended to 31 December

Help to Buy

- New product codes issued for all products

- Fixed end dates extended to 31 December

Product Switch

Mainstream

- 2 year fixed rates increased by up to 0.06% at 60% to 80% LTV and up to 0.61% at 85% and 90% LTV

- 3 year fixed rates increased by up to 0.13% at 60% to 80% LTV and up to 0.80% at 85% and 90% LTV

- 5 year fixed rates increased by up to 0.13% at 60% to 80% LTV and up to 0.80% at 85% and 90% LTV

- Fixed end dates extended to 31 December

Buy to Let

- 2 year fixed rates reduced by up to 0.15% at 65% to 75% LTV

- 3 year fixed rates temporarily withdrawn

- 5 year fixed rates reduced by up to 0.15% at 65% to 75% LTV

- 2 year fixed rate products with £749 and £0 fee increased by up to 0.23% at 60% LTV

- 2 year fixed rate product with £1,499 fee reduced by up to 0.05% at 60% LTV

- 5 year fixed rates increase by up to 0.10% at 60% LTV

- Fixed end dates extended to 31 December

Help to Buy

- New product codes issued for all products

- Fixed end dates extended to 31 December

Product Change

On Monday 17 August 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates remain at end November.

New Business

Mainstream

- 2 year fixed product with £999 fee 60% to 85% LTV temporarily withdrawn

- 5 year fixed rate products at 90% LTV with £1,499 fee re-introduced with an increase of up to 0.30%

- 5 year fixed rate products with £999 fee at 60% to 80% LTV have increased by up to 0.66%

- 5 year fixed rate product at 60% LTV with £1,499 fee re-introduced with an increase of up to 0.06

- 5 year fixed rate products with zero fee at 60% to 85% LTV re-introduced with increase of up to 0.85%

Buy to Let

- All Buy to Let products temporarily withdrawn

Help to Buy

- 5 year fixed rate zero and £999 fee products at 60% to 75% LTV have increased by up to 0.14%

Product Switch

Mainstream

- New product codes only and no product changes

Buy to Let

- New product codes only and no product changes

Help to Buy

- 2 year fixed rate with £499 product fee at 60% to 75% LTV temporarily withdrawn

- 3 and 5 year fixed rate products at 60% to 75% LTV have increased by up to 0.14%

Product Change

On Friday 7 August 2020 we will re-launch our Mainstream mortgage range for New Business.

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged.

New Business

Mainstream

- Temporary withdrawal of 5 year fixed zero fee product (M2076) at 90% LTV

Buy to Let

- No change

Help to Buy

- Temporary withdrawal of Help to Buy 2 year fixed zero and £999 fee products (H169 & H170) at 60% to 75% LTV

Product Switch

Mainstream

- No change

Buy to Let

- No change

Help to Buy

- No change

Product Change

On Wednesday 5 August 2020 we will re-launch our Mainstream mortgage range for New Business. 

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged.

New Business

Mainstream

- Temporary withdrawal of 3 year fixed rate products

- Temporary withdrawal of 2 year fixed rates with £0 and £299 fee

- Temporary withdrawal of 5 year fixed rates with £1,499 fee

- Temporary withdrawal of 5 year fixed rates at 60% to 85% LTV with £0 fee

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Friday 31 July 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates remain at end November.

New Business

Mainstream

- 2 year and 5 year fixed products with £999 product fee 60% to 85% LTV re-introduced with an increase of up to 0.17%

- 2 year and 5 year fixed products with zero product fee 60% to 85% LTV re-introduced with an increase of up to 0.25%

- 5 year fixed rate product at 90% LTV with zero fee re-introduced with with an increase of up to 0.20%

- 3 year fixed rate product zero fee at 85% LTV increased by 0.10%

Buy to Let

- 3 year fixed rate products reduced by up to 0.40%

Help to Buy

- New product codes only and no product changes

Product Switch

Mainstream

- New product codes only and no product changes

Buy to Let

- 3 year fixed products reduced by up to 0.40%

Help to Buy

- New product codes only and no change to product

Product Change

On Friday 24 July 2020 we will re-launch our Mainstream mortgage range for New Business

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged. 

New Business

Mainstream

- Temporary withdrawal of 2 year fixed £999 fee product (M2047) at 85% LTV

- Temporary withdrawal of 5 year fixed £999 fee product (M2043) from 60% to 80% LTV

- Temporary withdrawal of 5 year fixed £999 fee product (M2051) at 85% LTV

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

We continue to have a technical issue which means you cannot submit your application when a card payment is required. If your application has a homebuyers report or arrangement fee please contact the Mortgage Desk on 0345 070 1999 (Option 1) who will provide assistance. If possible please have the card details to hand when you call and we will process the application and payment for you.

Phone lines are open Monday – Friday 09.00 – 17.00 and on Thursday 10.00 – 17.00.

Product Change

On Wednesday 22 July 2020 we will re-launch our Mainstream mortgage range for New Business

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged. p>

New Business

Mainstream

- Temporary withdrawal of 2 year fixed zero fee product (M2038) from 60% to 80% LTV

- Temporary withdrawal of 2 year fixed zero fee product (M2045) at 85% LTV

- Temporary withdrawal of 5 year fixed zero fee product (M2050) at 85% LTV

- Temporary withdrawal of 5 year fixed zero fee product (M2052) at 90% LTV

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Wednesday 15 July 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching. 

New product codes issued and end dates extended to end November.

New Business

Mainstream

- 2 year and 5 year fixed products with £999 product fee 60% to 85% LTV re-introduced.

- 5 year fixed rate product at 90% LTV with zero fee re-introduced with an increase of 0.30%

- Introduction of 5 year fixed product with £1,499 fee at 60% LTV.

- Selected fixed rate product increases of up to 0.20%

- End dates extended to the end of November.

Buy to Let

- End dates extended to end November

Help to Buy

- End dates extended to end of November

Product Switch

Mainstream

- Fixed rate increases at 75% LTV to 85% LTV of up to 0.15%

- All 90% LTV fixed rate products increased by 0.50%

- End dates extended to end November

Buy to Let

- End dates extended to end November

Help to Buy

- Fixed rate reductions on fee free products of up to 0.20%

- End dates extended to end November

Product Changes

When we announced our 90% LTV products on Wednesday 24th June we referenced that there would be limited availability for these mortgages.

Due to unprecedented demand we have made the decision to pause applications for the 90% LTV fee free range and are now withdrawing it from the market temporarily. However, the 90% LTV fee paying product remains available.

New Business

Mainstream

- Temporary withdrawal of 5 year fixed £0 product fee (M2030) at 90% LTV.

Buy to Let

No change


Help to Buy

No change


Product Switch

Mainstream

No change

Buy to Let

No change
 

Help to Buy

No change

Product Changes

Temporary withdrawal of selected mainstream new business products. All other products remain unchanged.

New Business

Mainstream

- Temporary withdrawal of 2 year fixed £999 product fee (M2016) from 60% to 85% LTV.

- Temporary withdrawal of 5 year fixed £999 product fee (M2023) from 60% to 85% LTV.

Buy to Let

No change


Help to Buy

No change


Product Switch

Mainstream

No change

Buy to Let

No change
 

Help to Buy

No change

Product Change

On Friday 26 June 2020 we will re-launch our Mainstream mortgage range for New Business.

Reintroduction of 90% LTV products for our mainstream new business. All other products launched on Monday 22 June 2020 remain unchanged.

New Business

Mainstream

- 90% LTV 5 year fixed rate products reintroduced

- England & Wales - House purchase and remortgage max 90% LTV

- Scotland - House purchase max 75% LTV, remortgage max 80% LTV. It is expected that physical valuations will recommence in Scotland on Monday 29 June 2020 at which point house purchase and remortgage will be available in Scotland at 90% LTV.

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Help to Buy

- No change

  • From Friday 26 June Platform will offer a limited number of 90% LTV mortgages for those looking to mortgage a property in England or Wales.
  • From Monday 29 June we will be able to offer 90% LTV mortgages to customers in Scotland as physical valuations recommence.

Platform, the intermediary mortgage brand of The Co-operative Bank, will offer a limited number of 90% LTV mortgages from Friday 26 June to support first time buyers and home movers who need a higher LTV to help with their house purchase plans.

Commenting on the re-launch of 90% LTV mortgage products announced by Platform today, Fred Sharp, Head of Intermediary Business said:

“We’re glad to be able to offer our broker partners the choice at 90% LTV mortgages when looking for the best deal for their client’s circumstances. We recognised there is a customer need for this type of mortgage, so we wanted to be able to support this – albeit on a limited basis dependent on demand. We will continue to monitor the appetite for this type of mortgage and we will update our broker partners if we need to make changes to our range.

“We welcome the recommencing of physical valuations in Wales, and from Monday in Scotland, and look forward to working with our broker partners to support their clients across the UK with a good value mortgage deal as we will now be able to make our full range of products available for application.”

The rates for 90% LTV mortgages will be on the Platform website and available for applications from Friday 26 June 2020.

Carolyne Gregory, Head of Retail Lending at The Co-operative Bank said:

“As the market remains limited in the 90% LTV category, we’re pleased to be able to offer this higher LTV lending at a competitive price for customers who need to borrow at this level to help make their house purchase a reality. We’ll keep this offer available for as long as we can, dependent on demand.”

“Separately, we are also continuing to support those customers whose financial circumstances have been impacted by coronavirus. We have already granted mortgage payment deferrals for many of our customers who needed it, and we will continue to review requests for payment deferrals until the end of October. Customers who have already chosen to defer their mortgage payments can also ask for additional support and our team is here to help and talk to customers about what they might need at this challenging time.”

Details of the assistance available to our mortgage customers and the information they need to make a request for a mortgage payment deferral are on our website:

Coronavirus Support for Mortgage Customers.

-Ends-

Notes to Editors:

Mortgages that make a difference – in partnership with youth homelessness charity Centrepoint:
Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. The Co-operative Bank is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter. The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

For further information please contact:

Nicki Parry
The Co-operative Bank
Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk

About The Co-operative Bank

The Co-operative Bank plc provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used. Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

  • From Monday 22 June 2020 Platform’s Help to Buy mortgage range will be available to brokers.
  • 85% LTV mortgages are also being reintroduced for those looking for a mortgage in England.
  • All fixed rate mortgages for house purchases will be reduced from Monday 22 June by up to 0.20 percentage points

Platform, the intermediary mortgage brand of The Co-operative Bank, is reintroducing its Help to Buy mortgage range and also making mortgages of up to 85% LTV available for those looking for a mortgage in England from Monday 22 June 2020.

As the ability to carry out physical valuations is restricted in other parts of the UK, those looking for a mortgage for a property in Scotland or Wales are able to apply for mortgages up to 75% LTV for purchases and up to 80% LTV for remortgages with Platform from Monday.

Commenting on the reintroduction of mortgage products announced by Platform today, Fred Sharp, Head of Intermediary Business said,

“We are continuing to support our broker partners find the right products and best value deals for their clients as they start to get their aspirations of owning a home back on track. Help to Buy is an important part of our product range and we’re glad to have this available from Monday as well as increasing our available mortgages up to 85% LTV for those looking to purchase a house in England.”

As well as reintroducing mortgage products back into the range, Platform is also reducing all fixed rate mortgages for house purchases by up to 0.20 percentage points, all go forward rates are detailed on the Platform website and will be available for applications from Monday 22 June 2020.

Highlights of Platform’s mortgage range include:
1.17 per cent two year fixed rate at 60% LTV with a £999 fee and £250 cashback available
1.54 per cent five year fixed rate at 75% LTV with a £999 fee with £250 cashback available
1.44 per cent two year fixed rate at 80% LTV with a £999 fee with £250 cashback available

Commenting on the reduction to fixed rate mortgages Carolyne Gregory, Head of Retail Lending said:

“At Platform we are committed to helping as many people as we can purchase their first home while also supporting homeowners take their next step on the property ladder or to save money on their monthly mortgage payment. The changes announced today show we are almost back to offering our full range of products and with an across the board reduction to our fixed rate mortgages for house purchases, we are very much open for business.

“We are continuing to monitor the wider market to ensure our remortgage and product switch options remain competitive as we understand that finding the right deal can make a big difference to households navigating a challenging economic landscape. We will support our mortgage customers to find the right mortgage option for their circumstances and their financial situation.”

-Ends-

Notes to Editors

Mortgages that make a difference – in partnership with youth homelessness charity Centrepoint: Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. The Co-operative Bank is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter. The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

For further information please contact:

Nicki Parry
The Co-operative Bank
Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk

About The Co-operative Bank

The Co-operative Bank plc provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used. Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

Product Change

On Monday 22 June 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates extended to end October.

New Business

Mainstream

- 85% LTV fixed rate products reintroduced

- All fixed rate products reduced by up to 0.20%

- End dates extended to end October

- England - House purchase and remortgage max 85% LTV

- Scotland & Wales - House purchase max 75% LTV, Remortgage max 80% LTV

Buy to Let

- Standard Buy to Let fixed rates at 65% to 75% LTV re-introduced for purchase and remortgage in England

- Scotland & Wales - Max LTV for purchase and remortgage remains 60% LTV

- End dates extended to end October

Help to Buy

- Full Help to Buy fixed rate range reintroduced with end dates of end of October

Product Switch

Mainstream

- Selected fixed rate reduction at 60% to 80% LTV of up to 0.17%

- All 5 year fixed rates at 90% LTV and selected 3 year fixed products increased by up to 0.25%

- End dates extended to end October

Buy to Let

- 5 year fixed rates at 70%-75% LTV reduced by 0.10%

- End dates extended to end October

Help to Buy

- Help to Buy product switch products now available via brokers

Platform launches Help to Buy Product Transfers

In response to your feedback we have introduced a new service that will allow brokers to switch their client's maturing Help to Buy mortgage. If your client's Help to Buy product is coming to an end you can now submit a Help to Buy Product Transfer application by completing the form on our Product Transfer page. 

Product Changes – England only

On Wednesday 03 June 2020 we will re-launch house purchase applications at 80% LTV and allow applications for new build property in England.

We are awaiting further guidance on the rest of the UK. In the meantime, please do not submit house purchase applications at 80% LTV or for new build property in Wales or Scotland, as we will not be able to progress the property valuation.

New Business

 Mainstream

- Relaunch house purchase applications at 80% LTV, currently limited to 75% LTV

- Relaunch new build applications on the current range, up to 80% LTV

Product Change

On Wednesday 20 May 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates extended to end September.

New Business

New Business

- Selected fixed rate reductions of up to 0.10%.

- House purchase applications should only be submitted up to 75% LTV

- No New Build applications should be submitted at any LTV

- Tracker products remain temporarily removed.

Buy to Let

- Standard Buy to Let fixed rates at 60% LTV re-introduced for purchase and remortgage.

- New Build not available at this time.

Help to Buy

- All product options remain temporarily withdrawn

Product Switch

Mainstream

- All 5 year fixed rates at 60% LTV and 3 year fixed rate with no fee at 60% LTV reduced by 0.05%

- All fixed rates at 85-90% LTV increased by 0.10%

Buy to Let

- Selected fixed rated at 65%-75% increased by up to 0.10%

- All tracker products temporarily withdrawn

Mortgage valuations

Following the latest Government advice on Sunday 10 May and further clarification along with updated guidelines, our valuation partners will be able to carry out physical inspections of properties in England from Monday 18 May.

We are awaiting further guidance on properties in the rest of the UK and we will continue to carry out desktop valuations where we can.

Our focus over the short term will be to work applications that are currently on hold as quickly and safely as possible, we will complete valuations in date order with the oldest applications being booked first.

Please ensure you advise us of any material changes to your clients’ circumstances. In addition, if your client no longer wants to proceed with the mortgage application please let us know as soon as possible so we can prioritise applications that are progressing.

The safety of our customers and valuers remains our number one priority. Valuations will be completed in line with government guidance and will involve a detailed safety assessment. We understand that some customers will not feel comfortable letting a valuer into the property at this time, where this is the case we will attempt a desktop valuation or place the valuation on hold where this is not possible.

Desktop Valuations Criteria:

  • Residential remortgage and revaluations up to 80% LTV
  • Residential purchase up to 75% LTV
  • Max Property Limit - £1m Greater London and £750k elsewhere

Key exclusions will be:

  • BTL applications above 60% LTV
  • New Build
  • Non-standard construction
  • LTV above 80% for re-mortgage and above 75% for purchase

In a small number of instances, it may not be possible to complete a desktop valuation for cases that meet the criteria outlined.

Unfortunately, due to the nature of homebuyers reports and buildings surveys these instruction types will not be possible at this time.

Product Change

On Friday 03 April 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes issued and end dates extended to end July.

New Business

Mainstream

- Fixed rates between 70% and 80% increased by up to 0.15%

- End dates extended to end July

- Please note: House purchase applications should only be submitted up to 75% LTV

- Please note: No New Build applications should be submitted at any LTV

- Tracker products remain temporarily removed.

Buy to Let

- All product options remain temporarily withdrawn

Help to Buy

- All product options remain temporarily withdrawn

Product Switch

Mainstream

- No pricing changes

Buy to Let

- No pricing changes

Product withdrawal

From close of business on Friday 27th March we will update our Mainstream, Help to Buy and Buy to Let mortgage ranges for New Business.

Following the latest Government advice around social distancing, our valuation partners are unable to inspect properties; this means some mortgage applications cannot progress while this type of valuation is unavailable. 

To ensure customers are only able to make applications for mortgages that can be completed during this time, we are making some changes to our range to only offer mortgage products that don’t require a physical valuation to be carried out. This is a temporary change whilst there are no physical valuations available. We will continue to review our product range and ensure we’re offering as much choice to borrowers as possible while continuing to act as a responsible lender.

Product codes and end dates remain unchanged across the range.

New Business

Mainstream

- LTV options greater than 80% will be temporarily withdrawn;

Please note: House purchase applications should only be submitted up to 75% LTV
Please note: New Build applications should not be submitted at any LTV

- All tracker products will be temporarily withdrawn.

Buy to Let

- All product options temporarily withdrawn.

Help to Buy

- All product options temporarily withdrawn.

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Wednesday 25 March 2020 we will update our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching to reflect the change in Bank of England Base rate.

Fixed rate end dates unchanged. All Product codes changed.

New Business

Mainstream

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

- SVR reduced to 4.34%

Buy to Let

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

Help to Buy

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

- SVR reduced to 4.34%

Product Switch

Mainstream

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

- SVR reduced to 4.34%

Buy to Let

- New product codes only for internal processing purposes

- Bank of England base rate reduced by 0.15%

On 19th March 2020, the Bank of England base rate decreased from 0.25% to 0.10% - find out more.

Product Change

On Monday 16 March 2020 we will update our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching to reflect the change in Bank of England Base rate.

Fixed rate end dates unchanged. Product codes unchanged.

New Business

Mainstream
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Buy to Let
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Help to Buy
- SVR reduced by 0.50% to 4.49%

Product Switch

Mainstream
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Buy to Let
- Tracker rates reduced in line with the Base Rate reduction but including the existing floored rate of 0.50%, therefore tracker rates reduced by 0.25%
- SVR reduced by 0.50% to 4.49%

Bank of England base rate change

On 11th March 2020, the Bank of England base rate decreased from 0.75% to 0.25% - find out more.

The Co-operative Bank is pleased to announce the further development of its mortgages team with two key senior appointments.

 

Fred Sharp joins as Head of Intermediaries for the bank’s Platform mortgage brand. Fred joins from CYBG where over a ten-year period he held a series of senior leadership roles, most recently as Head of Mortgage Distribution. Fred will join the Co-operative Bank at the start of April, and his remit will be to build on and strengthen existing strategic relationships with brokers and corporate partners. He will be responsible for continuing ongoing new business momentum for Platform, to achieve sustainable growth through 2020 and beyond in what continues to be an intensely competitive market.

Last week the Co-operative Bank reported a resilient performance for its mortgage business in 2019, despite market competition, with 5 per cent net growth in mortgage balances, reflecting £3.8bn of gross new mortgage lending. The Bank attributed this to its strong relationships with brokers and agile pricing.

The Co-operative Bank has also promoted Carolyne Gregory to the role of Head of Retail Lending, responsible for developing and delivering the Bank’s retail lending strategy. A product and commercial leader specialising in mortgages, Carolyne has spearheaded key product initiatives and held senior leadership roles over a number of years at The Co-operative Bank, since joining from HSBC in 2014.

 

Darrell Evans, Chief Commercial Officer at The Co-operative Bank said,

“I am delighted that Fred has decided to join The Co-operative Bank, and I am looking forward to working with him and Carolyne. We see significant opportunities for further growth in our intermediary mortgage business and our mortgage leadership team will seek to maintain the momentum that we established through 2019 and build on our successful performance of last year.

“The mortgage market remains highly competitive. Our focus will be to maintain our high levels of service and continue to offer good value mortgage products, as well as improving our systems and processes to make placing business with us faster and easier for brokers.

“As we develop our product agenda, we will continue to reflect the ethical differences that set The Co-operative Bank apart from others in the market as we look to acquire new business throughout 2020. As the original ethical bank and the only UK high street bank with a customer-led ethical policy, we will continue to support the causes that matter most to our customers, including tackling youth homelessness with Centrepoint by making a donation for every new mortgage or mortgage switch completed.”

 

-Ends-

Notes to Editors:

Images of Platform leadership available on request.

 

Fred Sharp

Fred has more than 15 years of experience leading teams in the mortgages sector. He has an outstanding record of delivering sales results and change management. He held a number of senior roles at CYBG over 10 years including Head of Intermediary Mortgage Distribution. His last role was as Head of Mortgage Distribution for CYBG and he now joins The Co-operative Bank as Head of Intermediaries.

Carolyne Gregory

Carolyne joined The Co-operative Bank in November 2014 from HSBC Bank PLC where she held roles at both first direct and HSBC spanning across Credit Risk and Product Management. With over a decade of experience in financial services and specialising in Mortgages, Carolyne has spearheaded key product initiatives and held strategic management roles over a number of years at The Co-operative Bank before she was promoted to her current role as Head of Retail Lending at the end of 2019.

Darrell Evans

Darrell joined the Co-operative Bank in January 2018 and he is currently the Chief Commercial Officer. Darrell has significant experience in; financial services, strategy, marketing and operations and spent the first part of his career at Royal Bank of Scotland plc. There he was Managing Director, Mortgages, Loans and Retail Telephony in the retail banking division responsible for all aspects of the Group’s mortgage proposition. Prior to that, he was Product Director for RBS retail bank. Darrell has also held senior executive roles at Direct Line Insurance Group plc, Virgin Money plc and The Consulting Consortium where he was CEO. Darrell also holds a non-executive role in the property services sector.

Mortgages that make a difference – in partnership with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. The Co-operative Bank is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer, and existing customer, product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

 

For further information please contact:

Nicki Parry

The Co-operative Bank

Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk  

 

About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used.  Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

Product Change

On Friday 28 February 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end June. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rates with fees increased by 0.05%.

- All 95% LTV rates reduced to be now all at 3.00%.

Buy to Let

- Selected fixed rates reduced by up to 0.10%

Help to Buy

- No change

Product Switch

Mainstream

- Selected fixed rates increased by up to 0.20%

Buy to Let

- Selected fixed rates reduced by up to 0.10%

We are currently experiencing a technical issue and we are unable to take card payments for mortgage applications. If your application requires a fee to be paid please contact the Mortgage Desk on 0345 070 1999 (Option 1) who will provide assistance.

Phone lines are open Monday – Friday 09.00 – 17.00 and on Thursday 10.00 – 17.00. 

Apologies for any inconvenience caused while we are working to resolve the issue.

Product Change

On Wednesday 12 February 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain unchanged. New product codes will be issued for all products.

New Business

Mainstream

- 2 year fixed rate with £299 fee reduced by 0.05% at 60%, 70% and 75% LTV

- All other 2 year fixed and 3 & 5 year fixed rates with £999 fee at 60%-90% LTV reduced by 0.05%

- 2 year fixed rate at 95% LTV increased by 0.03%

- 2, 3 and 5 year fixed rates with £0 fee at 60%-90% LTV increased by 0.05%

Buy to Let

- No change

Help to Buy

- 2 and 5 year fixed rates with £999 fee reduced by 0.05%

Product Switch

Mainstream

- All 2, 3 and 5 year fixed rates with a fee payable reduced by 0.05%

- All 2, 3 and 5 year fixed rates with a £0 fee increased by 0.05%

Buy to Let

- No change

Product Change

On Wednesday 29 January 2020 we will make a minor change to our Mainstream mortgage range for New Business.

New Business

Mainstream

- M1928 2 year fixed rate 60-90% LTV zero fee products temporarily withdrawn.

Product Change

On Wednesday 15 January 2020 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end April. New product codes will be issued for all products.

New Business

Mainstream

- 5 year fixed rate no fee 90% LTV reintroduced with 0.05% increase

- All tracker products aligned to the same rate for each product in 60%-75% LTV bands.

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- Selected fixed rates up to 75% LTV reduced by up to 0.10% aligning to the same rate for each product in 60%-75% LTV bands.

- All tracker products aligned to the same rate for each product in 60%-75% LTV bands.

Buy to Let

- No change

Product Change

On Thursday 9 January 2020 we will make a minor change to our Mainstream mortgage range for New Business.

New Business

Mainstream

- 5 year fixed rate with no fee at 90% LTV temporarily withdrawn.

It’s a well-reported fact that many young people across the UK continue to struggle with access to affordable housing and are forced into homelessness.

As a mortgage lender with strong values and ethics, Platform, part of The Co-operative Bank, see it as their duty to help to end youth homelessness – and their partnership with Centrepoint is key to that. With every mortgage completion* they make a donation to the Centrepoint Helpline – so it really is thanks to you that they are able to make a difference when you place business through Platform.

Centrepoint has been helping vulnerable young people for 50 years and demand for their services has definitely not eased over the years. In the first ten months of 2019, the Centrepoint Helpline received over 8,000 calls and provided 4,543 young people with advice and guidance on housing issues.

As well as supporting Centrepoint through our mortgage donation, The Co-operative Bank also supported the charity’s Manchester Sleep Out for the third year running in November 2019, an event which raised over £84,000 to continue funding the charity’s work with vulnerable young people in our home city and beyond.  

 

Find out more from Platform and their work with Centrepoint 

*New mortgage customer applications and existing mortgage customer product switch applications received from 2 May 2018 up to and including 31 December 2020 will be eligible for a £5 donation, on completion of the mortgage or product switch (as the case may be).  Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the Centrepoint charity donation at this time.  The Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  

The £5 donation will be made for each eligible mortgage sold through direct and intermediary channels i.e. it applies to the Bank’s Britannia and Platform branded mortgages. Britannia and Platform are trading names of The Co-operative Bank p.l.c. The Bank reserves the right to change or withdraw the donation arrangement at any time.

Centrepoint is a registered charity in England and Wales, No. 292411

Product Change

On Wednesday 11 December 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain at end February. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rates at 80% to 95% LTV reduced by up to 0.10%

Buy to Let

- All BTL fixed rates reduced by 0.05%

Help to Buy

- 5 year fixed rates reduced by up to 0.10%

Product Switch

Mainstream

- Selected fixed rates at 80% to 90% LTV reduced by up to 0.10%

- 3 year fixed rates at 60% LTV increased by up to 0.10%

Buy to Let

- All BTL fixed rates reduced by 0.05%

Product Change

On Monday 18 November 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end February. New product codes will be issued for all products.

New Business

Mainstream

- Selected 2 year fixed rates up to 75% LTV increased by up to 0.10%

- 5 year fixed rate with £999 product fee at 60% LTV increased by 0.05%

- Selected 3 and 5 year fixed rates up to 90% LTV reduced by up to 0.10%

- 95% LTV rates reduced by up to 0.20%

Buy to Let

- All fixed rates reduced by 0.05%

Help to Buy

- No change

Product Switch

Mainstream

- Selected 2 year fixed rates up to 75% LTV increased by up to 0.10%

- 5 year fixed rates with a product fee at 60% LTV increased by 0.05%

- Selected 3 and 5 year fixed rates up to 90% LTV reduced by up to 0.10%

Buy to Let

- All fixed rates reduced by 0.05%

Product Change

On Monday 28 October 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain at end January. New product codes will be issued for all products to support the policy change.

New Business

Mainstream

- No change

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product Change

On Monday 14 October 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain at end January. New product codes will be issued for all products.

New Business

Mainstream

- Rate reductions of up to 0.10% on all fee-paying fixed rate products at 60-85% LTV

Buy to Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- Rate reductions of up to 0.10% on all fee-paying fixed rate products at 60-85% LTV

Buy to Let

- No change

Product Change

On Tuesday 24 September 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end January. New product codes will be issued for all products.

New Business

Mainstream

- 2 and 5 year fixed rate 95% LTV reintroduced with 0.15% increase

- 3 year fixed rate 95% LTV increased by 0.10%

Buy To Let

- No change

Help to Buy

- No change

Product Switch

Mainstream

- No change

Buy to Let

- No change

Product change

On Friday 13 September 2019 we will be updating our Platform Mainstream products. Fixed rate end dates unchanged. Product codes unchanged.

New Business

Mainstream

- 5 year fixed rate 95% LTV temporarily withdrawn

Buy to Let

- No change

Help to Buy

No change

Product Switch

 Mainstream

No change

Buy to Let

No change

Product change

On Thursday 05 September 2019 we will be updating our Platform Mainstream products.

New Business

Mainstream

- 2 year fixed rate 95% LTV temporarily withdrawn

Buy to Let

- No change

Help to Buy

No change

Product Switch

 Mainstream

No change

Buy to Let

No change

Product change

On Friday 30 August 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products.

New Business

Mainstream

- All 2 year fixed rates up to 75% LTV reduced by 0.05%
- Selected 3 year fixed rates reduced by up to 0.12%
- Selected 5 year fixed rates reduced by up to 0.12%

Buy to Let

- All BTL rates reduced by 0.05%

Help to Buy

- All rates reduced by 0.05%

Product Switch

 Mainstream

- All 2 year fixed rates up to 75% LTV reduced by 0.05%
- Selected 3 year fixed rates reduced by up to 0.12%
- Selected 5 year fixed rates reduced by up to 0.12%

Buy to Let

- All BTL 2 and 5 year fixed rates reduced by 0.05%
- Selected 3 year fixed rates reduced by 0.05%

Product change

On Monday 19 August 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products.

New Business

Mainstream

- All 95% LTV fee paying products remain temporarily withdrawn
- All 2 year fixed rates up to 80% LTV reduced by 0.05%
- 3 year fixed rates with fees up to 75% LTV reduced by 0.05%
- 5 year fixed rates with fees up to 75% LTV reduced by 0.03%

Buy to Let

- All 5 year fixed rates reduced by 0.05%

Help to Buy

- All 5 year fixed rates reduced by 0.05%

Product Switch

 Mainstream

- All 2 year fixed rates up to 80% LTV reduced by 0.05%
- 3 year fixed rates with fees up to 75% LTV reduced by 0.05%
- 5 year fixed rates with fees up to 75% LTV reduced by 0.03%

Buy to Let

- All 5 year fixed rates reduced by 0.05%

Product change

On Tuesday 13 August 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end November. New product codes will be issued for all products.

New Business

Mainstream

- All 95% LTV £999 fee products temporarily withdrawn
- All 95% LTV zero fee products reduced by up to 0.07%

Buy to Let

- No rate changes

Help to Buy

- No rate changes

 

Product Switch

 Mainstream

- No rate changes

Buy to Let

- No rate changes

Platform’s BDM team continues to be voted best for service in latest satisfaction survey results

Platform, the intermediary mortgage brand of The Co-operative Bank, is proud to be continuing to deliver great service for broker partners as the latest results of the BVA BDRC survey show*.

The externally carried out satisfaction survey found that the Platform Business Development Management (BDM) team have increased their satisfaction score during the first half of 2019 in areas such as;

- The accessibility of the BDM team and;
- The overall service of the BDM team.

In this latest set of results the overall score was 89 per cent satisfaction for the BDM team up from 80 per cent for the same period in 2018. The team has worked hard to ensure that despite increased volumes, service has remained strong and achieved a Net Promoter Score that is currently 36+, and up from 30+ for the same period in 2018.

Neil Wyatt, Head of Intermediary Distribution at Platform said; “I’m very proud that even with the increased demand that we’ve seen for mortgage business during 2019 we’ve met that challenge successfully. We really hit the ground running at the beginning of 2019 as we wanted to build on all that we had achieved throughout last year. I’m really pleased that we’ve been able to continue to deliver a high standard of both service and support for our broker partners, and we will be working to ensure that this is something we can maintain through the rest of this year and beyond.”

Throughout 2019 The Co-operative Bank and Platform will continue to support youth homelessness Charity Centrepoint. Homelessness is an issue that has been really focused on in the mortgage industry with fundraising events taking place at the end of 2018, including The Co-operative Bank’s sponsorship of Centrepoint’s Manchester Sleep Out.

Neil Wyatt continued: “We hope that our broker customers and corporate partners will be able to support us with our work with Centrepoint through 2019. For every new mortgage or product switch completed The Co-operative Bank donates £5 to Centrepoint. By choosing to complete mortgages with us our broker partners and their clients are helping to tackle the issue of youth homelessness and help vulnerable young people in crisis.”

Mortgages that make a difference - partnering with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. In May 2017 we partnered with youth homelessness charity Centrepoint to support their vital work by making a donation on behalf of each new mortgage customer and through colleague fundraising. In May 2018 the mortgage charity donation was extended to include product switch/ product transfer customers.

The Co-operative Bank plc is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

-Ends-

Notes to Editors:
*Platform broker satisfaction survey conducted and prepared by BVA BDRC. The methodology is:

- 20-minute telephone interviews with intermediaries who had recently submitted mortgage cases to Platform
- 200 interviews were completed with intermediaries from a sample list provided by Platform
- Fieldwork carried out across March, April and May 2019

Platform's current Net Promoter Score is +36, up from +30 for the same period of 2018.

For further information please contact:

Nicki Parry
The Co-operative Bank
Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk

About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to around four million retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used.  Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

- Select new mortgages across our mainstream, Buy-to-let and Help to Buy range have been reduced by up to 0.10 percentage points.
- Platform continues to offer highly competitive and in some cases market leading help to buy mortgage deals.
- Select product switch mortgages have been reduced by up to 0.15 percentage points.

Platform, the intermediary mortgage brand of The Co-operative Bank, has today reduced interest rates across a range of mortgage products, with some mortgages reduced by up to 0.15 percentage points. 

Platform continues its commitment to support first time buyers with competitive deals across its Help to buy Range with some market leading deals now available. Highlights include;

- Market leading two year fixed rate help to buy mortgage at 60% and 75% LTV at 1.59 per cent with a £999 fee;
- Market leading five year fixed rate help to buy mortgage at 60% and 75% LTV at 1.99 per cent with a £999 fee;
- Two year fixed rate help to buy mortgage at 60% and 75% LTV at 2.04 per cent with a £0 fee;
- Market leading five year fixed rate help to buy mortgage at 60% at 2.19 per cent with a £0 fee;
- Five year fixed rate help to buy mortgage at 75% LTV at 2.24 per cent with a £0 fee.

Other highlights of the newly reduced mortgage range include;
- Five year fixed rate mortgage at 60% LTV at 1.79 per cent with a £999 fee;
- Five year fixed rate mortgage at 60% LTV with a market leading rate of 1.94 per cent with a £0 fee;
- Market leading five year fixed rate buy-to-let mortgage at 60% LTV at 2.14 per cent with a £0 fee.

All with the benefit of free standard valuation for purchase and remortgage. Free standard legals are also available for remortgage. For full details visit: www.platform.co.uk

Neil Wyatt, Head of Mortgage distribution for Platform said: “We continue to review the interest rates we offer across our range of mortgages to ensure we’re offering competitive deals for broker clients looking for the right mortgage for their needs and we remain committed to having a competitive range of mortgages for first time buyers looking to get on to the property ladder and are pleased to be offering a number of best in market Help to Buy mortgage deals.

 

“We have always had a policy of offering preferential rates for our existing customers and this price change means we now have a number of deals that are best in market for our existing customers to benefit from. We want customers to pick a competitive deal from us and know that they will still be offered a great deal when they’re looking to switch their mortgage. We do value our loyal customers and want work with our broker partners to keep their clients’ business for the long term.”

 

As Platform is the intermediary mortgage brand of The Co-operative Bank, Platform is committed to The Co-operative Bank's unique customer led Ethical Policy. The Co-operative Bank and Platform continue to support youth homelessness Charity Centrepoint. A £5 donation is made by The Co-operative Bank in respect of every Platform branded new mortgage and existing customer product switch application received which proceeds to completion.

 

Mortgages that make a difference - partnering with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. In May 2017 we partnered with youth homelessness charity Centrepoint to support their vital work by making a donation on behalf of each new mortgage customer and through colleague fundraising. In May 2018 the mortgage charity donation was extended to include product switch/ product transfer customers.

 

The Co-operative Bank plc is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.


 

 

-Ends-

Notes to Editors:

Mortgage rates correct as at 9:00am Friday, 12 July, 2019

For full details of Platform’s mortgage range please go to www.platform.co.uk

 

For further information please contact:

 

Nicki Parry

The Co-operative Bank

Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk  

 

 

Product change

On Friday 12 July 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products. 

New Business

Mainstream

- Selected fixed rates reduced by up to 0.10%

Buy to Let

- Selected 5 Year fixed rates reduced by up to 0.10%

Help to Buy

- All Fixed Rates reduced by up to 0.10%

Product Switch

Mainstream

- Selected fixed rates reduced by up to 0.15%

Buy to Let

- Selected 5 year fixed rates reduced by up to 0.10%

Platform reduces interest rates on select Help to Buy mortgages

- Platform’s five year fixed rate Help to Buy mortgages have been reduced by 0.10 percentage points
- Platform continues supporting first time buyers with good value mortgage deals


Today (Monday, 24 June, 2019), Platform; the intermediary mortgage brand of The Co-operative Bank, has reduced the interest rate of its five year fixed rate Help to Buy mortgages by 0.10 percentage points.

Adhering to the Government Help to Buy scheme terms and conditions as standard; the already competitive Platform Help to Buy range is available up to a maximum 75% LTV and over a maximum term of 40 years for both first time buyers and homeowners.

Platform’s Help to Buy mortgages are available at either 60 per cent or 75 per cent LTV and are fixed for either a two or five year term. Products either have a £999 arrangement fee with no administration fee or are fee free for borrowers. 

Highlights of the changes being made today include*:

- 04 per cent five year fixed rate mortgage at 60 per cent LTV with a £999 arrangement fee;
- 09 per cent five year fixed rate mortgage at 75 per cent LTV with a £999 arrangement fee;
- 24 per cent five year fixed rate mortgage at 60 per cent LTV with a £0 arrangement fee;
- 29 per cent five year fixed rate mortgage at 75 per cent LTV with a £0 arrangement fee.

All of Platform’s Help to Buy mortgages are available with £500 cashback and free mortgage valuation.

Neil Wyatt, Head of Intermediary Distribution for Platform said: “At Platform we’re continuing to support the first time buyer market by reducing select interest rates within our already competitive Help to Buy mortgage range. 

“We are working with more and more broker partners as they look for the best value deal for their clients looking to buy their first home and we will continue to support and service brokers looking to place a Help to Buy mortgage with Platform.”  

For full details of Platform’s mortgage range please go to www.platform.co.uk

Mortgages that make a difference - partnering with youth homelessness charity Centrepoint:

Platform is the intermediary lender of The Co-operative Bank - the only UK high street bank with a customer led ethical policy. In May 2017 we partnered with youth homelessness charity Centrepoint to support their vital work by making a donation on behalf of each new mortgage customer and through colleague fundraising. In May 2018 the mortgage charity donation was extended to include product switch/ product transfer customers. 

The Co-operative Bank plc is committed to paying to Centrepoint a £5 donation in respect of every Platform branded new mortgage customer and existing customer product switch application received from 2 May 2018, which proceeds to completion. Transactions relating to existing mortgages including a further advance, porting of an existing mortgage or change of borrower, are not eligible for the donation at this time. The donation will be paid following completion of the mortgage and the Bank will make a payment to Centrepoint quarterly, for eligible completions during the previous quarter.  The Bank reserves the right to change or withdraw the donation arrangement at any time. Centrepoint is a registered charity in England and Wales, No. 292411.

.

 -Ends-

 

 

*All rates correct as of 9am Monday 24th June 2019

 

For further information please contact:

 

Nicki Parry

The Co-operative Bank

Tel: 0161 201 1590 Email: nicki.parry@co-operativebank.co.uk  

 

About The Co-operative Bank
The Co-operative Bank plc provides a full range of banking products and services to around four million retail and SME (Small and Medium Sized Enterprises) customers and is committed to values and ethics in line with the principles of the co-operative movement.

The Co-operative Bank is the only high street bank with a customer-led ethical policy which gives customers a say in how their money is used.  Launched in 1992, the Policy has been updated on five occasions, with new commitments added in January 2015 to cover how the Bank operates its business, products and services, workplace and culture, relationships with suppliers and other stakeholders and campaigning.

Product change

On Monday 24 June 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates unchanged. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rates reduced by 0.05%

Buy to Let

- 5 Year fixed rates with zero fee reduced by 0.10%

Help to Buy

- 5 Year fixed rates reduced by 0.10%

 

Product Switch

 Mainstream

- Selected fixed rates reduced by 0.05%

Buy to Let

- 5 Year fixed rates with zero fee reduced by 0.10%

Product change

On Friday 07 June 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end September. New product codes will be issued for all products. 

New Business

Mainstream

- 2 year fixed rate with £0 fee at 60%, 70% & 75% LTV reduced by 0.05%
- 5 year fixed rate with £0 fee at 70% & 75% LTV reduced by 0.05%
- 2 year fixed rate at 90% LTV with £299 fee increased by 0.05%
- 2 year fixed rate at 95% LTV with £0 fee increased by 0.10%

Buy to Let 

- 2 year fixed rates with £1,999 and £999 fee reduced by up to 0.15%
- 3 year fixed rates with £1,999 and £999 fee reduced by up to 0.10%
- 5 year fixed rates with £1,999 and £999 fee reduced by up to 0.15%

Help to Buy 

- New product codes only issued for all products

Product Switch

Mainstream

- 2 year fixed rate with £0 fee at 60%, 70% & 75% LTV reduced by 0.05%
- 5 year fixed rate with £0 fee at 70% & 75% LTV reduced by 0.05%

Buy to Let 

- 2 year fixed rates with £1,499 and £799 fee reduced by up to 0.10%
- 3 year fixed rates with £1,499 and £799 fee reduced by up to 0.05%
- 5 year fixed rates with £1,499 and £799 fee reduced by up to 0.10%

Product change

On Friday 10 May 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end August. New product codes will be issued for all products.

New Business

Mainstream

- 3 & 5 year fixed rates with £1499 fee temporarily withdrawn.
- 2 year fixed rate at 60% LTV with zero fee increased by 0.05%
- 5 year fixed rate at 60% LTV with £999 fee increased by 0.05%
- Selected 3 year fixed rates reduced by up to 0.10%
- New product codes issued for all products
- End dates extended to end August

Buy to Let 

- Selected Buy to Let fixed rates at 60% & 65% LTV reduced by up to 0.10%
- New Product Codes issued for the entire range
- End dates extended to end August

Help to Buy 

- New product codes issued for all products
- End dates extended to end August

Product Switch

Mainstream

- Selected 3 year fixed rates at 60% LTV reduced by 0.05%
- New product codes issued for all products
- End dates extended to end August

Buy to Let 

- Selected fixed rates reduced by up to 0.10%
- New Product Codes issued for the entire range
- End dates extended to end August

Reset your Click password

If you have forgotten the password for your Click account, please click here to reset it.

A password reset instruction and verification email will be sent to your registered email address. If you do not receive the email within 30 mins, please contact the Broker Support Team on 0345 070 1999 Monday-Friday between 09:00-17:00 (Thursday 10:00-17:00).

Product change

On Friday 12 April 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates remain unchanged. New product codes will be issued for all products.

New Business

Mainstream

- Selected fixed rate reductions of up to 0.10%

Buy to Let 

- Buy to Let fixed rates with zero fee at 60% LTV reduced by 0.05%

Help to Buy 

- Fixed rates with zero fee reduced by 0.05%

Product Switch

Mainstream

- 5 year fixed rates at 60% LTV reduced by 0.05%

Buy to Let 

- 2 year fixed rate with zero fee at 60% reduced by 0.05%

Product change

On Monday 01 April 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates extended to end June. New product codes will be issued for all products.

New Business

Mainstream

- 2 year fixed rate products with zero fee and £299 fee reduced by 0.05%

- 3 year fixed rate products with zero fee reduced by 0.05%

- All 5 year fixed rate products reduced by 0.05%

- All 95% LTV fixed rate products reduced by up to 0.15%

Buy to Let 
- 2 and 5 year fixed rate products with zero fee between 65% & 75% reduced by 0.05%, excluding Premier products

Help to Buy 
- All products reduced by 0.05%

Product Switch

Mainstream

- All fixed rate products reduced by 0.05%

Buy to Let 
- No change

Product change

On Thursday 28 February 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New Business

Mainstream

- All fixed rate products increased by 0.05%

Buy to Let 

- All Buy to Let fixed rate products increased by 0.05%, excluding Premier products

Help to Buy 

- All products increased by 0.05%

Product Switch

Mainstream

- No change

Buy to Let 

- No change

Product change

On Monday 18 February 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates are extended to 31 May. New product codes will be issued for all products.

New Business

Mainstream

- 2 year fixed rates £999 fee 90% LTV increased by 0.05%

- 2 year fixed rates £0 fee 90% LTV increased by 0.10%

Buy to Let 

- 2 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

- 5 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

Help to Buy 

- No change

Product Switch

Mainstream

- 2 year fixed rates fee paying 90% LTV increased by 0.05%

- 2 year fixed rates £0 fee 90% LTV increased by 0.10%

Buy to Let 

- 2 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

- 5 year fixed rates £0 fee 65%-75% LTV increased by 0.05%

Product change

On Monday 28 January 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

New product codes have been issued for all products to support system changes, however product rates, fees, fixed end dates and features remain unchanged.

Product Change - Friday 18th January

On Friday 18 January 2019 we will re-launch our Mainstream and Buy to Let mortgage ranges for both New Business and Product Switching.

Fixed rate end dates are extended to 30 April. New product codes will be issued for all products.

New Business

Mainstream

- Selected 2 & 5 year fixed rates at 60% and 90% LTV reduced by up to 0.10%

- 2, 3 & 5 year fixed rates at 95% LTV reduced by up to 0.10%

Help to Buy 

- End dates extended to 30 April and new product codes issued

Buy to Let 

- 5 year fixed rates at 60% LTV reduced by 0.10%

Product Switch

Mainstream

- Selected 2 & 5 year fixed rates at 60% and 90% LTV reduced by up to 0.10%

Buy to Let 

- 5 year fixed rates at 60% LTV reduced by 0.10%