Platform, the intermediary lender of The Co-operative Bank, has been rebranded to become The Co-operative Bank for Intermediaries.
The bank says the rebrand is part of its ongoing transformation and technology upgrade programme, which is designed to deliver a customer-focused service and simplify the application journey through a new system, Broker Portal.
The first new product launch from Broker Portal includes a range of residential interest-only mortgages, which will give customers a choice of how to repay their mortgage.
In addition to launching residential interest-only mortgages, The Co-operative Bank for Intermediaries will also be improving its offering from today by:
- Increasing the maximum loan size on buy-to-let products to £750,000
- Increasing the maximum loan size at 95% LTV from £350,000 to £500,000
- Increasing the maximum loan size at 90% LTV from £500,000 to £600,000
- Replacing the two-year tracker with a lifetime tracker.
Fred Sharp (pictured), director of intermediary distribution at The Co-operative Bank, said: “Close alignment to The Co-operative Bank brand is important as we continue to strengthen our position as the original ethical bank and provide consumers with an ethical alternative.
“Our new application system, Broker Portal, will allow both brokers and customers to benefit from more efficient technology and will give us the flexibility to introduce new products and services, such as the residential interest only mortgages launching today.”
