With the non-conforming market now moving nearer mainstream mortgage lending, Platform, the intermediary lender of Britannia Building Society, has launched its first ever 2 year Non-Conforming Fixed Rates. Rates start from as low as 6.45% with the added benefit of no overhanging early repayment charges.

The new range comes hot on the heels of Platform’s recent successful launch of its first ever 3 Year Non-Conforming LIBOR Trackers and 3 Year Fixed Rates, also with no early repayment charge overhangs. The fixed rates have now been repriced and also include Minor Adverse. All the 3 year Tracker and Fixed Rate products benefit from no overhanging early redemption charges plus the option of a £500 Cashback. Introducer fees remain at 1% for all Non Conforming products.

A new range of fixed rates have also been launched across Platform’s Self-Certification and Buy to Let ranges with and without £500 Cashbacks.

KEY CHANGES TO ‘ONE’ PRODUCT RANGE:

Non-Conforming 2 Year Fixed Rates

• New 2 Year Fixed Rate range from 6.45%
• No overhanging early repayment charges
• Available on Minor Adverse, Light Adverse, Medium Adverse, Fast-Track and Right to Buy Light Adverse
• Applies to Full Status and Self-Certification loans
• 1% Introducer Fee

Non-Conforming 3 Year Fixed Rates

• New 3 Year Fixed Rate range from 6.45%
• Now available on Minor Adverse with a maximum LTV of 90%
• No overhanging early repayment charges
• £500 Cashback option
• Also available on Light Adverse, Medium Adverse, Fast-Track and Right to Buy Light Adverse
• 1% Introducer Fee

Buy to Let Fixed Rates (all up to 85% LTV)

• 2 Year Fixed 5.75%, 6.09% with £500 Cashback
• 3 Year Fixed 5.79%, 6.15% with £500 Cashback
• 5 Year Fixed 5.69%, 5.89% with £500 Cashback

Self-Certification Fixed Rates (all up to 85% LTV)

• 2 Year Fixed 5.75%, 5.99% with £500 Cashback
• 3 Year Fixed 5.69%, 5.99% with £500 Cashback
• 5 Year Fixed 5.85%, 5.99% with £500 Cashback
  
  

Guy Batchelor, Sales & Marketing Director comments:

“Non-conforming lending products are now mirroring the mainstream marketplace and after feedback from introducers, we felt that it was necessary to deliver a new range of Non-Conforming 2 Year Fixed Rate products with no ERC overhangs whilst still ensuring the level of fee paid to the introducer was not eroded.

“Our new range has been designed to be extremely competitive, with the addition of Minor Adverse to the Non-Conforming 3 Year Tracker and Fixed Rates coming as a direct result of listening to our intermediaries. The new fixed rates on our Buy to Let and Self-Certification products have been designed to also be market leading, making the entire range difficult for intermediaries to ignore when sourcing products on Mortgage Brain or Trigold!”

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