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.
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 | |
| Value for money | |
| Keeping you well informed | |
| Clarity of mortgage statements | |
| Transparency of charges | |
| 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.
