Platform has launched a range of 5-year fixed rate mortgages that will be available for those looking to borrow a minimum of £400,000 up to 90% loan-to-value (LTV).

The new 5-year mortgages have a £1,999 fee and interest rates range from 1.07% to 2.84% with up to £250 cashback also available.

Platform has also announced a number of interest rate reductions across its range that will come into effect from August 2.

Highlights of the mortgage options that will be available from Monday 2 August include a 2-year fixed rate at 2.74% at 90% LTV with no fee and £250 cashback, a 2-year fixed rate at 3.39% at 95% LTV with no fee and £250 cashback, and a 2-year fixed rate at 0.92% at 60% LTV with a £1,499 fee and £250 cashback.

Fred Sharp, director of mortgage distribution at The Co-operative Bank, said: “We’re committed to offering competitive deals to borrowers who are in the market for a good value mortgage product for their circumstances.

“We’re continually reviewing the products we have available to ensure we’re offering the kinds of products that work best for consumers within all stages of the housing ladder.

“We’ve had a strong mortgage performance so far in 2021 with £3.1bn of gross lending during H1 as announced in our interim results yesterday and we’re looking to continue that momentum into the second half of the year. With a strong pipeline of circa £1.5bn in net lending we’re really well placed to do just that.”