Platform launches new BTL range

Nia Williams

January 23, 2012

The Premier Buy to Let range increases the lender’s maximum loan size price for buy-to-let mortgages to £500,000.

The new two-year fixed rate and tracker rate products are available 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 home but who do not want to sell their existing property.

Also all fixed rate end dates across all products have been extended to 30 April 2014.

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.

Platform will only offer the Premier BTL products to landlords with a minimum income of £60,000 either sole or joint, and has also increased its maximum portfolio exposure to three properties totalling £1.5m, up from £1m.

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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