Platform has re-introduced its range of fixed-rate mortgages after these were withdrawn at the start of the week due to “unprecedented” demand.
The pricing on these products has now increased, by between by 0.73% and 0.84%. This repricing affects both new business and product switches across its mainstream, professional and buy-to-let ranges.
In its mainstream range Platform has re-introduced its two, three and five years products for new business. These have increased by up to 0.73%. For those looking to switch products, the two, three and five year fixes have increased by up to 0.83%, while the two year tracker product has increased by 0.25%, in line with the Bank of England increased.
Platform has also re-introduced two- and five-year fixed-rate deals on its professional mortgage range. Prices have again increased by up to 0.73%. These products have also seen the cashback offered cut, from £1,000 to just £500.
In the buy-to-let market, Platform has also re-introduced two- and five-year fixes for new business. These have been increased by up to 0.76%. It has also re-introduced its two-year fixed rate Premier BTL products, although here pricing is up by up to 84%. These increases also apply to BTL borrowers looking for a product switch.
Platform has also re-launched two and five year Help to Buy products. Here rates are also up by up to 0.73% – for both new business and product switches.
Platform, part of the Co-operative Bank, said new product codes would be issued for all products and end dates would be extended to the end of October. It added that it will also apply a revised valuation scale for all new business, be it on its mainstream or buy-to-let range.