Whether you're an existing customer or a first-time buyer, compare the best mortgage interest rates from Platform (a.k.a The Co-operative Bank for Intermediaries) with our tool below. To see what rate you could be offered, create a free Tembo recommendation.
When you create a Tembo recommendation, you'll get a free, downloadable Mortgage In Principle for each of the schemes you could qualify for.
Create your own free, personalised recommendation to see the best way for you to remortgage, including if you should stay with Platform Mortgages or change to another provider.
Platform Mortgages offers a small range of mortgages, including standard fixed-rate and tracker mortgages for first-time buyers, home movers, remortgagers and buy-to-let customers. They also offer cashback mortgages, where you'll receive a lump sum of money when you take out the mortgage, which can help to cover costs like the product fee. However, they do not offer as many schemes for first-time buyers, particularly those with smaller deposits.
Please note, Platform is an intermediary mortgage lender, so you have to go through a broker like us to apply to their products. As with any provider, whether Platform is the best mortgage lender for you depends on your affordability and unique circumstances, what mortgage products you're eligible for, and what the market is currently like. Our award-winning team here at Tembo can help you navigate these factors to ensure you get the best mortgage deal for you.
Like most mortgage lenders, Platform Mortgages offers a range of mortgage products with different eligibility criteria. How much you could borrow for a mortgage depends on which products you're eligible for, your household income and deposit, and other factors like your credit score, employment type, and outgoings. But typically you can borrow between 4-4.5 times your income. Although you may be able to borrow up to 5.5x if you have an LTV of 85% or less, and have an annual household income of at least £75,000.
By creating a free Tembo recommendation, you can see what you could be offered for a mortgage by Platform and other providers without applying.
Yes, you can make overpayments on a Platform mortgage, but restrictions may apply. If you have a residential mortgage, you can overpay by 10% of your outstanding loan balance per year. Paying anything above the allotted amount could see you being hit by an Early Repayment Charge (ERC).
Andy Shead
Senior Mortgage Advisor at Tembo
When it comes to service, Platform Mortgages comes pretty middle of the road, coming 8th out of 15 mortgage providers reviewed by Which?. Platform is also a subsidiary of The Co-operative Bank, which has a strong 4.2 out of 5 star rating on Trustpilot from over 8,000 reviews. However, they offer fairly average mortgage rates, and do not have the range of specialist mortgages offered by other lenders. For this reason, they may not be the right fit for borrowers who need a bit more help to get on the ladder due to credit issues, complicated incomes or affordability hurdles.
Plus, as an intermediary-only lender you can't deal with them directly. Instead, you have to use a mortgage broker, like us.
No, Platform Mortgages does not offer guarantor mortgages, although they do accept gifted deposits. So your family member could give you a non-refundable cash gift to help boost your deposit size, or use a Deposit Boost to unlock money from their home.
It can be difficult to know which lenders offer guarantor mortgages and which one is best for you and your family, as this depends on your unique affordability and what schemes you're eligible for. Working with a mortgage broker like Tembo who specialises in family-assisted mortgages can help you navigate lenders' different eligibility criteria and find the best deal for you from across the market.
Unsure which mortgage deal to go for? Buying your first home can be confusing and overwhelming. Get help from the experts.
Coming to the end of your current deal? Remortgage onto a new one with our help. We'll show you whether you should stay with the same lender, or switch.
Upsizing to your forever home? Or maybe you're downsizing to something more manageable. Whatever your reason for moving, we can help you find the best deal for you.
Thinking of becoming a landlord? We can help you discover the best buy to let mortgage deal for you and how you could boost your mortgage affordability.
Whether it's first-time buyers, home movers or remortgagers - our expert team has been trusted by thousands to make home happen.
4 simple steps to buying your first home or remortgaging
Check your eligibility for a range of mortgages and buying schemes, and get a personalised recommendation with interest rates and repayments in under 10-minutes.
Book a call with our experts to complete the qualification process, and we’ll cover off any questions you might have about any of the mortgage deals and budget-boosting schemes we advise on.
Next, your dedicated advisor will undertake full affordability checks to prepare the mortgage application. Then we’ll submit it on your behalf!
Your Tembo advisor will be on hand to ensure everything runs smoothly, so you can move onto your new deal as quickly as possible.