The decision to broaden availability follows a successful pilot with broker networks Thinc and Legal & General.
From today, a further seven companies will have access to Platform’s range of mainstream products, in addition to Platform’s core specialist range.
Companies with access to the range include, Bluefin (Thinc), Home of Choice
Intrinsic, Legal & General, Mortgage Intelligence, Openwork, Personal Touch Financial Services, Pink Home Loans and Sesame.
The move will provide a more comprehensive proposition to intermediaries looking for competitive mainstream products on behalf of their customers as well as allowing Platform to expand its offering at a time of continuing constraints in the specialist sector.
David Tweedy, managing director of Platform, says: “We are delighted to be extending our mainstream proposition following our successful pilot exercise with Thinc and Legal & General.
“The expansion of our product range is a key element in Platform’s journey from specialist lender to full market intermediary specialist. We have taken the interim step to introduce our mainstream proposition to a wider group of specific distribution partners whilst retaining our appetite to launch them fully market wide in the near future.”
He says the controlled approach to distribution will allow Platform to monitor and regulate business volumes whilst ensuring the overall customer proposition and customer experience remains consistently strong.
He adds: “Our launch into the mainstream sector demonstrates the Britannia Group’s commitment to Platform and to the intermediary market and as Platform develops into a broader intermediary specialist, it is our intention to offer mainstream products to intermediaries as well as operating in the specialist lending sector, where demand also remains strong. It is vital that Platform ensures it generates the right volume of business, with the right risk profile and the right pricing for the Britannia Group.”
Martyn Smith, head of mortgage products at Legal & General, says: “We’ve been working with Platform for some time and we’re excited to take that partnership a step further.
“It’s great to see a lender like Platform make the positive move into the mainstream market in the current environment and we have enjoyed working with them during the pilot phase. Lenders know that they can use Legal & General to lend in a controlled and sensible way to our members. We look forward to further products coming on board, both exclusive and shared.”