Platform expands product offering with launch of Mainstream
proposition pilot
Platform, the intermediary lender of Britannia, has announced
today it is launching into the mainstream mortgage arena.
From Monday 1 December, Platform will begin an exclusive three
month ‘launch and learn’ pilot with leading broker network Thinc,
with a view to a full market rollout in March 2009.
The move will provide a more comprehensive proposition to
intermediaries looking for competitive mainstream products on
behalf of their customers as well as allowing Platform to expand
its offering at a time of continuing constraints in the specialist
sector.
Britannia has an established relationship with the Thinc network
while Platform has over ten years experience of the intermediary
market. From December the Thinc relationship will transfer to
Platform, allowing Thinc brokers and their end customers to take
advantage of competitive mainstream products (as well as Platform’s
specialist products). They will also benefit from Platform's award
winning ‘click’ suite of online facilities which provide a fast and
secure process from application through to completion and a
consistent customer experience.
Platform will initially launch with a choice of 2 & 3 year
fixed rate products including fee free options and a low margin
proposition.
David Tweedy, Platform’s Managing Director commented: "We are
delighted to enter into this working relationship with Thinc and
hope to add considerable value to a relationship that Britannia has
developed with the network for a number of years.
“With continuing compression in the specialist mortgage sector,
a mainstream proposition through intermediaries was a natural and
logical step for Platform. The launch of this pilot does not
signify a move away from the specialist lending sector for Platform
but demonstrates the Britannia Group's commitment to Platform and
to the intermediary market. We understand that demand for these
types of products remains strong, but we also recognise that we
need to adapt and respond appropriately to the current, difficult
market conditions. It is vital that Platform ensures it generates
the right volume of business, with the right risk profile and the
right pricing for the Britannia Group.
“This pilot will give us the opportunity to learn about
operating in this sector and allow us to refine our proposition
with a view to a full market rollout 2009. We are fully committed
to listening and responding to the needs of our customers and will
adapt our offering accordingly.”
Alex Murray, Group Director of Mortgages, Thinc Group “We have
worked with Britannia for many years and have developed a close
working relationship. These are exciting developments for us
all and we are looking forward to developing our relationship with
Platform in the future. We have been impressed by their state
of the art systems and their professional approach and we are
always looking for the next step in improving existing products and
services.”
In preparation for the launch of the pilot, Platform has
established a dedicated mortgage processing team with specialist
knowledge of dealing with mainstream applications.
Back to press releases