Platform increases maximum loan size with Premier Buy to
Let product
Platform has today launched a new range of buy to let products
aimed at landlords wanting to purchase higher value properties.
The ‘Premier Buy to Let’ range has been launched by the
Co-operative Bank’s dedicated intermediary mortgage lender,
Platform, and increases the lender’s maximum loan size price for
BTL mortgages to £500,000.
The launch of the fixed and tracker rate products comes just
days after Platform committed to significantly increasing its
lending in the buy to let market in 2012 by a third to £600m as
part of its continued broker support.
The products available are up to a maximum LTV of 65% and come
with a 1% arrangement fee*. The range also includes products
available on a Let to Buy basis, available to customers who are
purchasing a new residential property and who do not want to sell
their existing property. Additionally all fixed rate end dates
across all products have been extended to 30 April 2014.
Platform will only offer the Premier BTL products to landlords
with a minimum income of £60,000 either sole or joint, and have
also increased their maximum portfolio exposure on three properties
totalling £1.5m from £1m.
Premier
product details >
All come with free valuation for purchases and remortgages and free
standard legals for remortgages.
Nick Allen, Product Marketing Manager, at Platform said: “The
introduction of the new Premier Buy to Let products, will further
improve our buy to let range and enable brokers to offer a wider
suite of products to their clients.
“We have already stated that our lending in the buy to let
sector will increase by a third this year to £600m and we will be
launching further innovative products throughout the year to best
serve brokers.
“We are keen to involve brokers in the development of products
and welcome their views and insight into what products they want to
offer their clients.”
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