It also launches a range of residentia,l interest-only mortgages
Platform, the intermediary lender of The Co-operative Bank, has rebranded to become The Co-operative Bank for Intermediaries as part of the bank’s ongoing transformation and technology upgrade programme.
Alongside the rebrand was the launch of a new and simplified application system called Broker Portal, which uses technology to enable product innovation, allowing the bank to deliver products that its customers need.
The first new product launch includes a range of residential interest-only mortgages.
In addition to launching residential interest-only mortgages, The Co-operative Bank for Intermediaries will also be increasing the maximum loan sizes to £750,000 on buy-to-let products, from £350,000 to £500,000 on 95% loan-to-value (LTV), and from £500,000 to £600,000 on 90% LTV.
The lender has also replaced the two-year tracker with a lifetime tracker.
“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,” Fred Sharp, director of intermediary distribution at The Co-operative Bank, stated in an article announcing the rebrand.
“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.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, Twitter, and LinkedIn.
