Rates getting cheaper as Platform launches 1.06% fix for mortgage up to £2 million
This rate has been withdrawn.
Platform launches 1.06% two-year fix mortgage
Mortgage lenders are reducing the price of their cheapest fixed-rate mortgages as they fight it out to attract borrowers.
Platform for Intermediaries has just improved the pricing of many of its mortgage and launched a 1.06% fixed until 30 July 2023. The maximum loan size is £2 million, and the product has a £1,499 arrangement fee. The APRC is 3.9%.
If you would prefer to take a longer fixed rate to see out the potentially turbulent few years ahead, Platform also has a 1.24% rate fixed until 30 July 2026. It also has a £1,499 arrangement fee, and the APRC is 3.2%.
Aaron Strutt, product director at Trinity Financial, says: “It took the lenders quite a while to work out how to operate when the pandemic hit, but the mortgage market is functioning well at the moment. It probably will not be long before we see two-year fixes below 1% again as they benefit from the cheap funding.
"Lots of the enquiries we are getting are from people looking for larger mortgages or more generous income multiples."
Source: Platform
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