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Platform for Intermediaries has re-entered the 10% deposit mortgage market with two five-year fixed rates.

The lender's lowest rate is priced at 3.29% and it is fixed until 31 October 2025. After the fixed period the mortgage reverts to the lenders 4.34% standard variable rate and the overall cost for comparison is 3.6% APRC.

Aaron Strutt, product director at Trinity Financial, says: "Over the last few weeks most of the mortgage lenders offering 10% deposit rates have temporarily withdrawn their products, but they are starting to come back.

"The lenders are limiting these products to five-year fixes so HSBC is the main bank offering two-year rates for those with smaller deposits. Accord Mortgages is also offering a five-year fix for first-time buyers with a 10% deposit."

Platform's 3.29% rate has a £1,499 arrangement fee and it is available for property purchases and remortgages. The maximum loan size is £500,000 and there is a free property valuation. The fee-free product is 0.2% more expensive. 

If you are planning to remortgage to Platform the lender will restrict the maximum loan to value (ltv) if you are raising additional funds. For home improvements the loan is capped 85% ltv - for capital raising its 75% ltv and for debt consolidation it will be limited 75% ltv.

The Co-operative Bank, Platform, smile and Britannia are trading names of The Co-operative Bank p.l.c.

Call Trinity Financial on 020 7016 0790 to secure a low deposit mortgage or send an enquiry

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