Platform Bank has increased its rates on both its residential and buy-to-let (BTL) mortgage ranges for new business and product switching, effective 17 May.
For new residential business two-year fixed rate products will increase by up to 0.6%.
Three- and five-year fixed rate products at 60% to 90% loan-to-value (LTV) will rise by up to 0.17%, while the 95% LTV will reduce by 0.04%.
The two- and five-year fixed rate professional mortgage products for new customers will go up by up to 0.15%.
Meanwhile, for new BTL customers two- and five-year fixed rate products will increase by up to 0.16%. The two-year fixed rate premier BTL products will also go up as much as 0.16%.
The lender’s help-to-buy two- and five-year fixed rate products will increase by 0.20% for new business.
For those product switch customers, residential rates will rise up to 0.12% for two-, three- and five-year fixed rate products.
The BTL product range for those switching products will increase by up to 0.16% for two- and five-year fixed rate products as well as the lender’s premier BTL products.
Two-, three- and five-year fixed rate products will go up by as much as 0.20% for help-to-buy product switches.
Platform Bank said: “New product codes issued for all products and end dates extended to the end of August. Products and rates may change or be withdrawn at short notice subject to demand.”
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