Platform for Intermedieias has launched an unbelievably low 0.95% two-year fix and a seriously good 1.18% five-year fix.
Both mortgages have £1,499 arrangement fees, and applicants will need a 40% deposit to qualify. The maximum loan size is £2 million. Early repayment charges apply on the two-year fix until 31 August 2023 and until 31 August 2026 on the five-year deal.
Aaron Strutt, product director at Trinity Financial, says: "Fixed rates are getting cheaper almost on a daily basis because the lenders have access to some incredibly cheap funding, and they want to lend as much money as they can while the market is so busy.
"If you are purchasing a property or your existing mortgage is coming to an end, it is worth considering these deals because they are so cheap. Over the coming weeks, we are likely to see other lenders improved their pricing as more banks and building societies edge toward the providing sub-1% fixed rates."
At the end of the fixed period, the mortgage reverts to the bank’s 4.34% standard variable rate, and the overall cost for comparisons will be confirmed on Tuesday. Platform is the broker lender arm of The Co-operative Bank.
Call Trinity Financial on 020 7016 0790 to secure a sub-1% mortgage rate or book a consultation