Platform Tracker Mortgage offer understanding

Luke765

Hello,

I have recently been offered a Platform 2 year Tracker Mortgage which is at 0.99% above the "Platform Base Rate". I've done some research but I can't find out if this base rate is always equal to the BoE base rate. On their site is says directly linked, but does this mean they are able to add on to the BoE rate and then the variable rate on top as well? 

Many thanks 

K_S

Luke765 said:

Hello,

I have recently been offered a Platform 2 year Tracker Mortgage which is at 0.99% above the "Platform Base Rate". I've done some research but I can't find out if this base rate is always equal to the BoE base rate. On their site is says directly linked, but does this mean they are able to add on to the BoE rate and then the variable rate on top as well? 

Many thanks 

@luke765 Can't speak for Platform specifically but NatWest trackers also refer to 'NatWest Base Rate' which my NatWest BDM confirmed is the same as BOE base rate. Do get your broker to confirm the same with Platform.

With mainstream lender tracker products, you would expect it to track the BOE rate.