Affordability and deposit requirements

The exact amount you can borrow from The Co-operative Bank for Intermediaries will depend on several factors, namely your income, the LTV and the product type. This lender will use a different income multiple for affordability based on these variables.

• 4.49 times income: For standard residential applicants
• 5 times income: When the LTV is less than 85% and income is £45,000 combined
• 5.5 times income: When the LTV is less than 85% and combined income is £75,000
• 6 times income: For its ‘Professional Mortgage’ range, aimed at fully qualified accountants, actuaries, architects, barristers, chartered surveyors, dentists, medical doctors, optometrists, pharmacists, solicitors and veterinarians

Co-operative Bank for Intermediaries has mortgage options for borrowers with various deposit amounts. The minimum they will accept is 5% of the property’s value.

Buy-to-let mortgage affordability is based on the interest cover ratio, with basic rate taxpayers needing it to reach 125% and higher rate taxpayers 145%. Deposit requirements for these mortgages start at 25% of the property’s value, and range up to 40%.

Will they offer a mortgage to borrowers with bad credit?

Platform’s successor The Co-operative Bank for Intermediaries will only offer bad credit mortgages to borrowers who have minor adverse, such as defaults or missed payments.

More severe issues including IVAs, CCJs, bankruptcies, debt management plans and repossessions will need to have been satisfied for at least six years.

Are Platform a good mortgage lender?

Its parent company The Co-operative Bank has an average rating of 4.2/5 on TrustPilot for all of its products and services. Its mortgage arm was ranked in 20th place out of 22 lenders in a mortgage market survey carried out by Which?, which assessed each mortgage provider based on their customer service and the competitiveness of their products.

Pros and cons

The table below offers an overview of The Co-Operative Bank for Intermediaries as a mortgage lender to help you decide whether they are the right option for you:

Compare rates and deals from Platform today

You can compare rates from Platform’s success with their competitors from across the market for free on Teito, as well as access broker support so you can apply for their deals.

Follow the steps below to browse rates in real time and choose your mortgage online:

Get started here: Then select whether you are looking for a two-year fixed-rate mortgage to buy a property or for remortgage purposes.

Specify the purpose of the property: You can compare two-year fixed-rate mortgages for residential or buy-to-let purposes, as well as remortgages.

Choose your own mortgage: Finally, tell us what stage you are at in the process and you can compare rates from across the market and choose the deal you want.

After you have selected a mortgage deal, one of our mortgage brokers will check over your application before securing an agreement in principle for you. They will be on hand to offer bespoke advice, make sure you’re getting the best deal, and oversee your application.