5 February
2007
Platform signals growth intentions with revamped product range
- significant reductions to tracker rates and enhancements to
lending criteria including removal of Higher Lending Charge up to
90% LTV on Non-Conforming range and 110% BTL rental cover
Platform, the intermediary
lender of Britannia, has announced today the launch of a new
product range which delivers a host of enhancements designed to
increase its market share within the specialist lending sector in
2007. The new products, which include significant reductions in
tracker rates and changes to lending criteria, are the first
amongst other product and technological enhancements planned by the
lender throughout 2007.
Product highlights
include:
Non-conforming
- Higher Lending Charge removed up to 90%
LTV
- Tracker rates reduced by up to
0.83%
Buy to Let
- 110% rental calculation option available
up to 90% LTV for purchase and remortgage
Remortgages
- Free legal fees available on Prime,
Self-Certification, Buy to Let and Non-Conforming Almost Prime to
Heavy Adverse products
- FAST Remortgage Option available across
all standard products which includes Title Insurance and
Conveyancing
Clickdecision and clickapplication, Platform’s online decision
and application facilities, have been adapted to cater for these
new products and criteria changes. Standalone Buy to Let rental
calculator tools have also been added to the platform.co.uk website
to allow intermediaries to determine which rental calculation
option is most suitable for their clients.
Additional highlights include:-
Buy to Let
- House Plus (Self-cert Buy to Let) now
available on 2 Year Tracker and 5 Year Fixed rate
products
Non-conforming
- 1 Year Tracker now available with only a 2
year early repayment charge, with rates starting from
4.79%
- Right to Buy now available across standard
Non-Conforming products with no rate loading
- LTV bandings simplified and reduced to 3
per adverse level
Prime
2 & 3 Year Fixed Rates now available,
starting from 6.29%
Paul Hunt, Platform’s Head of Marketing said: “The recent
increases in base rate have highlighted the need for lenders to be
more flexible with their Buy to Let rental assessments to enable
investors to obtain the mortgages they require. Therefore, we
expect our new 110% calculation to be popular, especially as it is
available up to 90% LTV for purchase and remortgage. We also
anticipate the removal of higher lending charges up to 90% LTV on
our non-conforming range to be equally well received.
“Already this year, we have announced our new sales team
structure which will provide greater coverage for our
intermediaries and we expect to be making many more announcements
in the next 12 months advising of further enhancements to our
overall proposition. After enjoying a very successful 2006, these
significant changes to our product range will undoubtedly appeal to
many intermediaries who may not have used Platform before and so
give us an excellent opportunity at the start of what promises to
be another exciting year.”
Back to Press
releases