Platform launches new product range
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.”
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.