17 May 2010
Intermediaries given chance to score with new
mortgage
With the globe’s greatest football tournament kicking off in
South Africa next month, Platform today (17 May) launched a new
mortgage fixed until the next World Cup begins in 2014.
The dedicated intermediary lender of The Co-operative Bank
believes its new four year fixed mortgage with a headline rate of
3.99 per cent could break the market’s current monopoly for two
year fixed products.
Rates are:
• Up to 60% – 3.99%
• Up to 70% - 4.19%
• Up to 75% - 4.49%
• Up to 80% - 4.99%
The deal is available for both purchases and remortgages and
offers a free valuation, while legal fees are free to those
remortgaging*. It comes with an arrangement fee of £1995 and
a £140 administration fee cost.
This new exclusive product is currently available through a
number of Platform’s intermediary partners which include: Legal & General, London & Country, Openwork,
Personal
Touch Financial Services, Connells,
Countrywide and Sesame.
Lee Gladwell, Business Development Director at Platform, said:
“Two year fixes are the product of choice for consumers at the
moment.
“But within a couple of years, it means potentially going
through a remortgage process, incurring more fees, while there is
only one direction interest rates could move in that time.
“We believe this new four year product is an excellent choice
for intermediaries to recommend to their clients seeking the
reassurance that comes from fixed monthly payments.”
Platform has also reduced the minimum loan size on its two year
tracker mortgage to £150k from £200k. It offers a rate of
2.44 per cent (BoE base rate +1.94 per cent).
Back to
press releases >