1st February 2006
Platform introduces new 70% LTV band across Non-Conforming
mortgage range
- Available on 2 & 3 Year Fixed Rates with no ERC overhang,
rates starting from 5.55% -
Platform, the intermediary lender of Britannia Building
Society, announces the launch of a 70% LTV band across its
Non-Conforming mortgage range stretching from Almost Prime to
Medium Adverse. The new products will be available from 6th
February 2006.
These products are priced at up to 0.40% lower than Platform's
standard LTV products and are available on 2 and 3 Year Fixed Rates
which all have no early repayment charge overhang. Available from
Almost Prime to Medium Adverse, the products offer both Full Status
and Self-Certification options and the arrangement fee is £545.
2 Year Fixed Rates - Fixed until 1st May
2008
| Product Type |
Status |
Self-Cert |
| Almost Prime |
5.60% |
5.70% |
| Near Prime |
5.65% |
5.75% |
| Minor Adverse |
5.75% |
5.90% |
| Light Adverse |
5.85% |
6.00% |
| Medium Adverse |
6.20% |
6.35% |
3 Year Fixed Rates - Fixed until 1st May
2009
| Product Type |
Status |
Self-Cert |
| Almost Prime |
5.55% |
5.70% |
| Near Prime |
5.60% |
5.75% |
| Minor Adverse |
5.65% |
5.80% |
| Light Adverse |
5.80% |
5.90% |
| Medium Adverse |
6.00% |
6.20% |
In addition, many other rates across both Non-Conforming and
Conforming ranges have been reduced such as the 2 & 3 Year
Self-Certification and 2, 3 & 5 Year Buy to Let Fixed Rates in
its Conforming product range.
Paul Hunt, Head of Marketing comments:
"With house prices increasing rapidly over the past few years, more
and more people have large amounts of equity in their properties
and so require lower LTV mortgages. With this in mind and taking
into account the lower risk such customers pose to us, this new
range has been priced to reflect this and now gives intermediaries
more choice across our Non-Conforming products than ever before.
"Since the launch of our two and three year fixed rates with no ERC
overhang across our Non-Conforming range over six months ago, the
levels of business we have received has increased dramatically and
fixed rates now account for over 60% of the Non-Conforming business
we receive. Combined with clickdecision, our Non-Conforming range
continues to provide intermediaries and their customers with a
range of products to suit a wide variety of circumstances and
needs."
Back to
Press releases