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Ultimate Platform Remortgage Guide

Platform, a trading name for the Co-operative Bank, is known for offering a diverse range of remortgage services tailored to homeowners' unique needs. If you're considering remortgaging your current mortgage or seeking more favourable terms, Platform's remortgage options might be the ideal solution for you.
In this guide
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    Introduction to Your Platform Remortgage

    Remortgaging with Platform allows homeowners to transfer their existing mortgage to Platform or alter their mortgage terms after their current deal ends. This can be a financially advantageous step, possibly securing lower interest rates and better loan terms, and avoiding the higher costs associated with Standard Variable Rates (SVR).

    Why Choose Platform for Remortgaging?

    Platform stands out for its competitive rates, transparent procedures, and excellent customer service. Their commitment to helping homeowners find the best mortgage solutions has established them as a trusted mortgage provider.

    Partnering with YesCanDo Money for Your Platform Remortgage

    YesCanDo Money Mortgage Brokers collaborates with Platform to simplify the remortgage process. With over 30 years of experience, their expertise ensures a seamless transition, making remortgaging with Platform effortless.

    Key Features of Platform Remortgages

    Platform, part of the Co-operative Bank, brings substantial experience in mortgages to the table. Their remortgage products are known for competitive rates, flexible terms, and a variety of features.

    Types of Mortgages Offered by Platform

    Platform offers a range of mortgage types to suit different financial needs and preferences. Here’s a brief overview:

    Fixed-Rate Mortgage

    Platform’s fixed-rate mortgages lock in your interest rate for a set period, typically 2, 3, or 5 years. This offers stability and predictability in your monthly repayments, making budgeting easier.

    Tracker Rate Mortgage

    Tracker mortgages from Platform have an interest rate that ‘tracks’ a nominated rate (usually the Bank of England base rate) plus a set margin. This means your payments can go up or down depending on the base rate, offering potential savings when rates are low.

    Interest-Only Mortgage

    While not as commonly available for residential properties, Platform may offer interest-only options for certain borrowers. In this scenario, you only pay the interest each month, with the principal amount due at the end of the mortgage term.

    Buy-to-Let Mortgage

    Platform’s Buy-to-Let remortgages offer landlords an efficient way to refinance rental properties. These products are crafted to meet the specific needs of property investors, providing both financial flexibility and competitive rates. Landlords can choose terms that best suit their investment plans and benefit from streamlined processes designed for ease of management. This approach helps in optimizing rental property investments, aligning with both short-term cash flow and long-term financial goals.

    Each type of mortgage has its own set of features and requirements. It’s important to consider your long-term financial goals and current financial situation when choosing the type of mortgage that’s right for you.

    Additional Features

    • Overpayments: You have the freedom to make regular or one-off overpayments, providing an opportunity to settle your mortgage sooner and save on interest.
    • Fee Options: Selected fixed and tracker remortgages come with no product fee, and you might also benefit from standard legal fee payment or a cashback option upon the completion of most mortgages.
    • Digital Management: Stay in control of your mortgage through user-friendly online and mobile banking options.
    • Valuation Perks: One free valuation per application is available when using their recommended surveyors.
    • Legal Fee Assistance: Free standard legal fees are offered for remortgages, conditional on using their recommended solicitors.
    • Overpayment Flexibility: You can choose to make overpayments to reduce your overall interest and pay off your mortgage faster. Overpay up to 10% per year without incurring an early repayment charge.
    • Extended Mortgage Terms: The option of a maximum mortgage term of up to 40 years.
    • Support in Changing Circumstances: Platform is there to support you if your life circumstances shift.

    Our fee-free mortgage advisors are at the core of our commitment to a smooth remortgage experience with Platform. They offer personalised guidance, simplifying each step from choosing the right option to submitting your mortgage application. With YesCanDo Money’s expertise and attentive support, you can navigate the remortgage process confidently and effortlessly, ensuring you make the best decision for your future, all without the worry of additional advisory fees.

    We Will Organise Your Whole Remortgage
    Whether you choose to remortgage with Platform (Co-op Bank) or with another lender, our advisors are experts at the remortgage process. Our team of mortgage experts are here to guide you every step of the way. Contact us today for to get started, we're friendly, experienced and fee-free.

    Understanding Remortgaging with Platform

    Platform, as a significant player in the Co-operative Bank group, offers personalised remortgage solutions. Their approach allows homeowners to adapt their mortgages to evolving financial situations and objectives.

    What is Remortgaging and Is It Right for You?

    Opting for a Platform remortgage can bring several benefits:

    • Competitive Interest Rates: Platform customers can take advantage of the competitive Co-operative Bank interest rates, potentially reducing their monthly repayments.
    • Releasing Equity: Access the locked-in value of your property for various financial needs like home improvements or funding major expenses.
    • Flexible Mortgage Terms: Adjust the duration or terms of your mortgage to align better with your current lifestyle and financial goals.
    • Debt Consolidation: Consider merging other debts into your mortgage, potentially benefiting from lower interest rates and overall monthly outgoings.

    Understanding Loan-to-Value (LTV) with Platform

    Navigating Platform’s LTV criteria is key:

    • LTV Limits: Platform typically offers remortgages up to 85% LTV, accommodating a broad spectrum of borrower needs.
    • Favourable Rate Access: Securing more attractive interest rates is often possible with lower LTV ratios, enhancing long-term financial savings.
    • Diverse Refinancing Options: Whether you’re aiming to lower your payments, access property equity, or adjust your mortgage structure, Platform’s remortgage options are designed to support a variety of refinancing objectives.

    Understanding Your Current Mortgage for a Platform Remortgage

    Comparing your current mortgage terms with Platform’s offerings:

    • Interest Rate Comparison: Evaluate your existing rate against Platform’s offerings.
    • Penalties and Benefits: Understand your current mortgage’s penalties and compare them with Platform’s flexibility, such as the option for overpayments.

    Timing Your Remortgage with Platform

    The optimal timing can enhance the benefits:

    • SVR Considerations: Initiate the remortgage process before your current deal expires to avoid a higher Standard Variable Rate.
    • Market and Personal Factors: Align your remortgage with favourable market conditions and personal financial stability.
    We Will Organise Your Whole Remortgage
    Whether you choose to remortgage with Platform (Co-op Bank) or with another lender, our advisors are experts at the remortgage process. Our team of mortgage experts are here to guide you every step of the way. Contact us today for to get started, we're friendly, experienced and fee-free.

    Evaluating Remortgaging Costs with Platform

    Before choosing Platform as your remortgage provider, evaluate all associated costs to make a well-informed decision.

    Potential Costs to Consider

    • Arrangement or Product Fees: Fees for arranging your new mortgage product.
    • Valuation Fees: For assessing your property’s current market value.
    • Legal and Conveyancing Fees: Costs for the legal process of remortgaging.
    • Early Repayment Charges (ERCs) and Exit Fees: For exiting your current mortgage.
    • Platform’s Fees: While some remortgages may have no product fee, it’s essential to confirm any fees specific to your chosen mortgage product.

    Platform Remortgage Process and Timeframe

    The average remortgage process with Platform can vary, generally taking between 4 to 8 weeks. This timeline depends on individual circumstances, property details, and the complexity of the remortgage.

    Steps to Complete a Platform Remortgage

    1. Research: Explore tailored remortgage options.
    2. Application: Preparation and submission of necessary documents.
    3. Property Valuation: Assessment of property value.
    4. Offer Review: Reviewing and understanding the mortgage offer.
    5. Completion: Finalising the remortgage process.

    Working with a Broker to Speed Up the Process

    Collaborating with a mortgage broker can significantly streamline the remortgaging process:

    • Expertise and Efficiency: Brokers are well-versed in Platform’s processes, helping to navigate the paperwork and requirements more efficiently.
    • Direct Communication: Brokers often have direct lines of communication with lenders, enabling quicker responses and problem-solving.
    • Tailored Applications: A broker can tailor your application to meet Platform’s criteria effectively, reducing the likelihood of delays or rejections.

    By understanding the nuances of remortgaging with Platform and considering the assistance of a mortgage broker, you can make an informed decision that aligns with your financial needs and objectives, while potentially speeding up the process for a smoother transition.

    Should I Remortgage with Platform or Switch Lenders?

    When considering remortgaging, you might be wondering if it’s better to stay with Platform or explore options with other lenders. This decision depends on several factors:


    • Competitive Rates: Platform is known for offering competitive interest rates, which can lead to significant savings over the term of your mortgage.

    • Flexible Terms: They provide a range of mortgage terms, allowing you to choose an option that best fits your financial situation.

    • Fee Waivers and Incentives: Platform often has offers like standard valuation fee waivers and no product fees on selected remortgages, which can reduce the overall cost.

    • Familiarity with Services: If you're already a Platform customer, you might appreciate the familiarity with their processes, online banking system, and customer service.


    • Better Rates or Terms: Other mortgage lenders might offer lower interest rates or terms that better align with your current financial goals.

    • Different Mortgage Products: Exploring other lenders can provide access to different mortgage products that might suit your needs better, like specific fixed-rate or tracker mortgages.

    • Special Offers: Some lenders might have special offers or incentives that are more attractive than what Platform currently offers.

    • Personal Circumstances: Changes in your personal or financial situation might be better catered to by another lender’s products.


    • Early Repayment Charges: Check your original mortgage offer or annual mortgage statement to see if there are any penalties with your current Platform mortgage that could make switching costly.

    • Equity and LTV Ratio: Assess the equity in your home and your loan-to-value ratio, as these will impact the rates and terms you can get, whether you stay with Platform or move to another lender.

    • Credit Score: Your credit score can influence your ability to secure favourable rates and terms with a new lender.

    • Long-Term Financial Goals: Consider your long-term financial plans. For instance, if you plan to pay off your mortgage quickly, specific products might be more advantageous.


    • Compare Offers: Look at the whole market to compare what different lenders, including Platform, are offering.
    • Seek Professional Advice: Our fee-free advisors specialise in tailoring advice to your needs, helping you decide whether to remortgage with Platform or switch lenders. They streamline the process, ensuring you make a well-informed decision that best suits your financial goals.

    Deciding whether to stay with Platform or switch lenders is crucial and personal. As an independent, fee-free mortgage broker, we're here to guide you. We compare deals from over 90 lenders, ensuring you get the best match for your needs. Our expert, cost-free advice is tailored to your financial well-being, helping you make informed decisions every step of the way.

    Grant Mortgage Adviser

    Case Study: Streamlining a Remortgage with Platform

    Grant (YesCanDo Mortgage & Protection Advisor
    We Will Organise Your Whole Remortgage
    Whether you choose to remortgage with Platform (Co-op Bank) or with another lender, our advisors are experts at the remortgage process. Our team of mortgage experts are here to guide you every step of the way. Contact us today for to get started, we're friendly, experienced and fee-free.

    Step-by-Step Guide to a Seamless Platform Remortgage with YesCanDo Money

    Your journey to a Platform remortgage is made simple and supportive with YesCanDo Money. We’re here to guide you through each step, ensuring your experience is smooth and stress-free. Here’s how we help:

    1) Initial Consultation: Understanding Your Needs

    Start with a friendly and insightful conversation with a YesCanDo Money advisor. We’ll listen to your financial aspirations, review your current mortgage situation, and begin crafting a plan that aligns with your goals.

    2) Mortgage Assessment: Tailoring Your Options

    Dive into the diverse remortgage options offered by Platform. We’ll help you understand how these choices fit with your loan-to-value ratio, informed by the latest property valuation, ensuring you find a deal that truly matches your needs.

    3) Application Submission: Streamlining the Process

    Lean on YesCanDo Money for hassle-free preparation of all necessary documents. We’ll meticulously organize and submit your remortgage application to Platform, taking the burden off your shoulders.

    4) Approval and Completion: Navigating to Success

    Once your mortgage application is approved, we’re still with you. Our advisors will guide you through the final steps to complete your remortgage, keeping the process clear and simple.

    5) Required Documents Simplified by YesCanDo Money

    We make gathering the required documents straightforward. You’ll need proof of income, identification, current mortgage statements, and a property valuation. We’ll help you compile everything, ensuring nothing is overlooked.

    6) Expert Guidance at Every Step with YesCanDo Money

    With YesCanDo Money, you’re never alone in this journey. Our advisors bring their expertise to every stage, from understanding Platform’s remortgage offerings to handling the application process. We’re committed to providing you with thoughtful, expert advice, making sure your remortgaging experience is as beneficial and smooth as possible.

    We Will Organise Your Whole Remortgage
    Whether you choose to remortgage with Platform (Co-op Bank) or with another lender, our advisors are experts at the remortgage process. Our team of mortgage experts are here to guide you every step of the way. Contact us today for to get started, we're friendly, experienced and fee-free.

    Alternatives to Remortgaging

    While remortgaging with Platform can be a great option for many, it’s also important to explore other avenues that might better suit your financial goals and circumstances. Here are some viable alternatives to consider:

    Further Advance

    A further advance involves borrowing more money from your current mortgage lender. This can be a practical choice if you’re happy with your current mortgage but need additional funds.

    • Uses: Ideal for home improvements, significant purchases, or debt consolidation.
    • Interest Rates: Often different (and potentially higher) than your main mortgage rate.
    • Repayment Term: This can vary, sometimes extending beyond your current mortgage term.

    Product Transfer

    Staying with your current lender but switching to a new mortgage deal is known as a product transfer. A Platform Product Transfer is a straightforward process and can be a good option if you’re satisfied with your lender but looking for better rates or different terms.

    • Simplicity: Less paperwork and no property valuation required.
    • Costs: Usually lower than remortgaging as it avoids exit fees and legal costs.
    • Eligibility: Dependent on your current lender’s offerings and your financial status.

    Second Mortgage

    Also known as a secured loan, a second mortgage allows you to borrow money while keeping your existing mortgage.

    • Loan Amount: Based on your home’s equity and your ability to repay.
    • Interest Rates: Typically higher than your primary mortgage.
    • Purpose: Useful for debt consolidation, home improvements, or as a funding source for large expenses.

    Exploring these alternatives is like opening doors to new possibilities, each with unique benefits. It’s important to consider them thoughtfully, as they can significantly impact your financial journey. We recommend discussing these options with an independent mortgage broker like YesCanDo Money who can offer personalised advice. They’ll help align your choice with your financial aspirations and lifestyle, ensuring you find a path that feels just right for you.

    We Will Organise Your Whole Remortgage
    Whether you choose to remortgage with Platform (Co-op Bank) or with another lender, our advisors are experts at the remortgage process. Our team of mortgage experts are here to guide you every step of the way. Contact us today for to get started, we're friendly, experienced and fee-free.

    Platform Remortgage FAQs

    The mortgage landscape can be intricate, but we’re here to help you navigate with clarity. Here are some common queries about Platform (part of The Co-operative Bank) remortgages to aid your decision-making:

    Platform's mortgage rates depend on various factors, including the loan-to-value (LTV) ratio, mortgage type, and individual credit history. They offer competitive fixed and tracker rates, with fixed rates available for 2, 3, or 5 years and tracker rates typically for 2 years. To get the most current and accurate rates, it’s advisable to visit Platform’s website or consult with a mortgage advisor.

    Yes, Platform is a trading name for The Co-operative Bank plc. It operates as part of The Co-operative Bank, offering a range of mortgage products, including remortgages, with a focus on competitive rates and flexible options.

    Yes, you can overpay on your Platform mortgage. They allow customers to overpay up to 10% of the mortgage balance per year without incurring an early repayment charge. This flexibility can help reduce the total interest paid over the life of the mortgage and shorten the mortgage term.

    As of my last update, Platform's standard variable rate (SVR) can vary. It is subject to change and can be influenced by broader economic factors. For the most current SVR, it's best to check directly with Platform or consult their website.

    Remortgaging can be worthwhile if it leads to lower interest rates, reduced monthly payments, the release of equity for home improvements, or consolidation of debts. However, it's important to consider factors like early repayment charges, legal fees, and the overall financial benefit. Consulting with a mortgage advisor can help determine if remortgaging is beneficial for your specific situation.

    The amount you can borrow on a Co-op (Platform) mortgage varies based on your income, credit history, and the value of your property. Generally, lenders offer mortgages up to a certain multiple of your income, but this can be influenced by other debts and financial commitments. It’s recommended to use a mortgage calculator on the Co-op Bank’s website or consult with a mortgage advisor for a precise figure.

    Yes, The Co-operative Bank offers mortgages, including remortgages, through its trading name, Platform. They provide a range of mortgage products with various features like fixed and tracker rates, overpayment options, and competitive interest rates.

    When considering a remortgage application, banks typically evaluate your credit history, income, employment status, current property value (LTV ratio), and existing debts. They also consider your mortgage repayment history and any changes in your financial circumstances since your original mortgage was approved.


    Remortgaging with Platform can be a strategic financial decision. As your broker, we want to guide you throughout the journey and work closely with Platform to streamline the remortgaging process and maximise value for your situation. Remortgaging is a big decision, but our expertise will support you each step of the way. You don’t have to go it alone. Lean on our knowledge and Platform’s capabilities so you can remortgage with ease and certainty. Together we will help you make the best remortgaging choice for your needs.

    Fee Free Mortgage Advisor Team

    Fee Free Mortgage Advisors

    FREE dedicated support throughout, we have full-market access to the best mortgage rates & deals. We do everything for you, for free! Call us, WhatsApp us, or fill in our contact form and let us know what the best time is for us to call you. We will get one of our mortgage advisors will be in touch to talk through your situation and available options.
    Grant Humphries (CeMAP)
    Grant Humphries (CeMAP)

    Grant Humphries (CeMAP) is a proficient Mortgage & Protection Adviser at YesCanDo Money. With a career spanning since 2001, Grant has honed his expertise in understanding mortgage lenders' criteria, complex financial situations, and the nuances of the mortgage market. His deep knowledge enables him to provide tailored solutions, especially for professionals and those with unique financial profiles. At YesCanDo, Grant's commitment to excellence is evident. He takes pride in guiding clients through their mortgage journey, ensuring they feel confident and informed at every step. From first-time buyers to seasoned investors, Grant's analytical approach and dedication make him a trusted adviser in the financial landscape

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