Platform will be releasing a sub 1% interest rate mortgage for borrowers looking for a 60% LTV mortgage from Wednesday 2 June.

The intermediary mortgage brand of the Co-operative Bank is also announcing a number of interest rate reductions across its range of on sale mortgages that will come into effect from 2 June and is also re-introducing its three year fixed rate mortgage options from next Wednesday with some benefitting from a £0 product fee and with £1,000 cashback available.

Deals will include the following:

• 2 year fixed rate at 0.95% at 60% LTV with a £1,499 fee and £250 cashback
• 3 year fixed rate at 2.65% at 80% LTV with a £0 fee and £1,000 cashback
• 5 year fixed rate at 3.15% at 85% LTV with a £0 fee and £1,000 cashback
• 5 year fixed rate at 1.18% at 60% LTV with £1,499 fee and £250 cashback
• 2 year fixed rate at 2.24% at 85% LTV with £1,499 fee and £250 cashback
• 5 year fixed rate at 2.67% at 85% LTV with £1,499 fee and £250 cashback
• 5 year fixed rate at 3.35% at 90% LTV with £999 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 reducing the interest rates on a number of our on sale mortgages to support buyers within all stages of the housing ladder and also offering up to £1000 cashback on select mortgages to help ease the cost of buying a property for aspiring homeowners or home movers.”