Platform rebrands to The Co-operative Bank for Intermediaries and launches with new interest only criteria, larger loans and ethical policy

by Aaron Strutt

Oct 02 2023

Platform has rebranded to The Co-operative Bank for Intermediaries, increasing its maximum loan sizes and launching a new interest-only policy.

Platform is the broker mortgage lending arm of The Co-operative Bank and this rebrand is designed to align the businesses.

As part of the change, the bank is launching a new online system enabling it to provide faster mortgage offers, more generous lending policies, and more of a focus on its ethical credentials.  

What is The Co-operative Bank for Intermediaries offering now?

• Residential interest-only mortgages up to 75% loan-to-value and further part interest-only and part capital repayment mortgages up to 85% loan-to-value.  Additionally, customers can use downsizing of their property as an interest-only repayment vehicle, providing they have £300,000 equity in their home.
• The bank has increased its maximum loan-to-income ratio from 4.85 to 5 up to 85% loan-to-value. This mean borrowers should be able to access larger loan sizes.
• It has increased its maximum loan-to-income ratio to 6 times salary with its professional product range targeting: Accountants, Actuaries, Architects, Barristers, Chartered Surveyors, Dentists, Medical Doctors, Optometrists, Pharmacists, Solicitors and Veterinarians.
• It has increased the maximum available residential loan at 95% loan-to-value up to £600,000, at 90% loan-to-value it is £750,000, at 85% loan-to-value up to £1 million, at 80% loan-to-value and to £2m for loans less than 75% loan-to-value.

Trinity Financial was asked to provide a comment as part of the rebrand. Aaron Strutt, our product and communications director, said: "The new system and processing improvements should produce mortgage offers more quickly and efficiently. The soft footprint is also a positive move.

"Most lenders do not provide brokers with information about their ethical credentials, so it's good to have something to tell our clients about and a strong selling point."

What are The Co-operative Bank for Intermediaries' ethical policies?

The three pillars of the Ethical Policy include:

Planet: Working to limit and reduce global climate change and the destruction of ecosystems. Taking steps to reverse the decline in biodiversity. Preserving animal welfare.  Working towards being a lifetime carbon-neutral bank. Increasing sustainability in our business and suppliers.

Promoting human rights: Reducing social justice in international development and equality.  Campaigning for meaningful change in society. Making sure as a responsible bank that treats customers fairly. Being an ethical employer with a strong culture.

Promoting economic and social development: Only working with businesses and organisations that are accountable and share our values. Supporting the co-operative movement and being a member of Co-operatives UK. Being good digital citizens and maintaining online protections. Continuing to support the small business community actively.

Call Trinity Financial on 020 7016 0790 to secure a mortgage or book a consultation. 

The information contained within was correct at the time of publication but is subject to change.

Your mortgage is secured on your property. Your property may be repossessed if you do not keep up repayments on your mortgage