17 October 2005
Platform cut Fixed Rates by up to 0.26%
- Including launch of new 4.95% 2 year Self
–Certification Fixed Rate Special
Platform, the intermediary lender of Britannia Building
Society, today announces the launch of a new exciting range of
fixed rates across their Self-Certification, Buy-to-Let and
Non-Conforming products.
The new range also sees the launch of a new 2 year fixed
rate Self-Certification special available to 85%LTV at the
exceptional rate of 4.95% with no early repayment charge
overhang.
These new fixed rates have been launched to follow-on from the
incredible success of the previous range launched in July with
“clickdecision”. The combination of extremely competitive products
and a ‘best of breed’ online decision facility has seen Platform
double its new business volumes and receive over 40,000 decisions
online of which over 80% have been approved.
Guy Batchelor, Sales & Marketing Director comments:
“The launch of “clickdecision” and our previous product range
has been a significant development for Platform and has completely
revolutionised our business. While we expected an increase in
our numbers, we have far exceeded even our expectations. Our
challenge is to maintain our position as one of the top specialist
lenders and this new range of fixed rates will ensure we do so in
the Buy to Let, Self-Certification and Non-Conforming markets. With
the launch of Electronic ID verification on ‘clickdecision’ last
week, once again Platform not only have one of the foremost online
decision systems in the market, we also have one of the most
competitive product ranges as well.”
SUMMARY OF NEW FIXED RATES
Self-Certification
| |
|
|
| |
|
Term
|
Max LTV
|
Fixed Rate
|
|
2 Year Fixed (Fixed to 1/3/08)
|
75%
85%
90%
|
5.19%
5.25%
5.44%
|
|
2 Year Fixed Special (Fixed to 1/3/08)
|
85%
|
4.95%
(0.75% Arrangement Fee & ERC –
6% to 1/3/08)
|
|
3 Year Fixed (Fixed to 1/3/09)
|
75%
85%
90%
|
5.25%
5.29%
5.55%
|
|
|
All have a £495 Arrangement Fee (except 2 Year Fixed Rate
Special)
Early Repayment Charges2 Year Fixed, excluding Special (5% of
amount redeemed to 1/3/08)
3 Year Fixed (5% of amount redeemed to 1/3/09)
Buy-to-Let
| |
|
|
| |
|
Term
|
Max LTV
|
Fixed Rate
|
|
3 Year Fixed (Fixed to 1/3/09)
|
75%
85%
|
5.10%
5.14%
|
|
5 Year Fixed (Fixed to 1/3/11)
|
85%
|
5.09%
|
|
|
Also, 5 Year Base Rate Tracker rate reduced to BBR + 0.85% up to
85% LTV
All have a £495 Arrangement Fee
Early Repayment Charges3 Year Fixed (5% of amount redeemed to
1/3/09)
5 Year Fixed (5% of amount redeemed to 1/3/11)
Non-Conforming
| |
|
|
| |
| |
2 Year Fixed
(Self-Cert)
|
2 Year Fixed
(Status)
|
3 Year Fixed
(Self-Cert)
|
3 Year Fixed
(Status)
|
|
Almost Prime
|
5.95%
|
5.85%
|
5.85%
|
5.75%
|
|
Near Prime
|
6.10%
|
5.90%
|
6.10%
|
5.90%
|
|
Minor Adverse
|
6.20%
|
6.05%
|
6.20%
|
5.90%
|
|
Light Adverse
|
6.30%
|
6.10%
|
6.30%
|
6.10%
|
|
Medium Adverse
|
6.60%
|
6.45%
|
6.55%
|
6.40%
|
|
|
All have a £495 Arrangement Fee
Early Repayment Charges2 Year Fixed (6% of amount redeemed to
1/3/08)
3 Year Fixed (6% of amount redeemed to 1/3/09)
End dates on the new range of fixed rates are now:
2 Year Fixed – 1st March 2008
3 Year Fixed – 1st March 2009
5 Year Fixed – 1st March 2011
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