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The Co-operative Bank and Platform mortgage review

Our Co-operative Bank mortgage review combines customer feedback with expert deal analysis to reveal whether Platform - its intermediary-only mortgage brand - is worth considering next time you apply for a mortgage.

In this article
The Co-operative Bank and Platform mortgage customer ratings What kinds of mortgages does Platform offer? Does Platform offer the best mortgage deals? Interest rates on Platform mortgages
How much could I borrow from Platform? How can I contact The Co-operative Bank? How can I contact Platform?

The Co-operative Bank and Platform mortgage customer ratings

Mortgages from The Co-operative Bank are only available to new customers through Platform, its intermediary-only mortgage brand. 

The Co-operative Bank still offers mortgages to existing customers who are on a standard variable rate, or coming to the end of a mortgage deal.

For this review, we've combined customer feedback on both brands, but we've only looked at Platform's deals to work out whether it's currently a market-leading lender.

Mortgages
Co-op/Platform review
Which? Customer Score
Joint 8th out of 16 mortgage lenders
71%
Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
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£5 for first month then £9.99/month unless cancelled

The table below shows how The Co-operative and Platform performed in our latest mortgage satisfaction survey.

The survey asked mortgage customers about everything from the application process to value for money.

Customer rating for: Star Rating
Customer service in general

4 out of 5

Value for money 

4 out of 5

Keeping you well informed 

3 out of 5

Clarity of mortgage statements

4 out of 5

Transparency of charges

4 out of 5

Query and complaint handling -
Ability to overpay or underpay mortgage -
Online access -

 

Star ratings based on a July 2021 Which? survey of 3504 members of the general public in which 49 people told us that they had their mortgage with Platform/ The Co-Op.

What kinds of mortgages does Platform offer?

When we checked in September 2021, there were 81 mortgages available from Platform. All of these deals were fixed-rate - meaning your interest rate will stay the same for a set initial period. Mortgage terms of two, three and five years were available. 

 

Does Platform offer the best mortgage deals?

Our experts analysed hundreds of mortgages over a four-week period in July and August 2021. They compiled a total of 206 ‘top-10 cheapest deal’ tables based on a variety of borrowing scenarios, and counted how many times each lender featured in a table.

The average number of times a lender made it into a table was 24, but Platform failed to feature at all, meaning it didn't offer market-leading rates in any of our scenarios. (Data source: Moneyfacts.)

Interest rates on Platform mortgages

In September 2021, Platform's average fixed-rate mortgage was priced at 1.88%, considerably below the overall average of 2.38%. 

How much could I borrow from Platform?

Platform will lend to first-time buyers, home movers and remortgagers at 60%, 70%, 75% , 80%, 85%, 90% and 95%  loan-to-value

Platform's maximum lending cap varies between 4.49 times and five-and-a-half times annual income, depending on the deal. 

How can I contact The Co-operative Bank?

Existing mortgage customers can contact 08000 288 288.

Its website is co-operativebank.co.uk.

How can I contact Platform?

If you're interested in taking out a Platform mortgage, you'll need to do so via a mortgage adviser.

Existing Platform mortgage customers can call 01752 236550.

Its website is platform.co.uk.

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