Platform launches 70 per cent non-conforming LTV band
The products, available on two- and three-year fixed rate deals with no ERC overhang, are priced at up to 0.40 per cent lower than Platform’s standard LTV.
Available from almost prime to medium adverse, the products offer both full status and self-certification options and the arrangement fee is £545.
In addition, many other rates across both non-conforming and conforming ranges have been reduced such as the two- and three-year Self-Certification and two-, three- and five-year buy-to-let fixed rates in its Conforming product range.
Paul Hunt, head of marketing at Platform, commented:
“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 per cent 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.”