Platform launch new product range

Platform’s plans for growth in the intermediary market were reinforced today with the launch of a new range of competitively priced mainstream and buy to let products.

Related topics:  Mortgages
Millie Dyson
12th January 2011
Mortgages
The Co-operative Bank’s dedicated intermediary mortgage lender has introduced new fixed and tracker deals as part of its aim to increase lending in 2011, which includes a rise in buy to let business.

The new mainstream mortgages include 1, 2, and 4 year fixed products; and 1, 2 and 3 year trackers.  Some deals are available without any arrangement fee, whilst a £1495 fee is applied to others.

There are also new 1, 2 and 4 year fixed buy to let products; along with 2 and 3 year trackers.  All come with either an arrangement fee of £2,495 or 2.5% of the loan. Exclusive deals are also available to Connells, Countrywide, L&G, Mortgage Intelligence, Pink Group, PMS/Sesame.
 
Free valuation and free standard legal fees are available on all products for remortgages, and each has a non-refundable administration fee of £140.

Lee Gladwell, Business Development Director at Platform, said:

“This year, we plan to further grow our presence through the broker channel and these new products are a sign of our confidence in the intermediary channel. As well as continuing to support brokers in the mainstream market, we plan to increase our buy to let business.   

“This is because brokers have been telling us of the increased interest they’re seeing from cash-rich investors keen to move money from cash savings into property as demand for rental property grows.”

Martyn Smith, Head of Mortgage Products at L&G said:

"This is a really positive message from Platform and great news for mortgage intermediaries. An increased lending appetite has to be welcomed, particularly in buy to let which we see as an area for growth in 2011.

“Platform's new product range offers an excellent combination of competitively priced products - with a number of fee options - providing choice for intermediaries and their customers.”
 
Platform has also launched two almost-prime mortgages.  These are a 2 year fixed from 5.64% and 2 year tracker from a starting rate of 4.54%.  Each come with an arrangement fee of £1,495 and a non-refundable administration fee of £140.
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