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Knight Funding offers three-year discount from Platform

Packager Knight Funding is offering a three-year non-conforming discount mortgage from Platform, with no redemption fees after the discount period.

The discount is 2% in year one, 1.5% in year two and 0.25% in year three. Early repayment fees are restricted to the three-year discount period and are 6%;6%;5% of the amount paid in full or part payment. The discount deal, negotiated by the PMPA, can be applied to any product in the Platform non-conforming range.

Frances Scanlan, chief executive of Knight Funding, says: “The product gives intermediaries an excellent choice for adding value to the consumer. They can choose to take advantage of the existing no application fee offer from Knight Funding on Platform&#39s non-conforming range which is now extended to June 30, or this discount with no redemption overhang.

“This is also an excellent opportunity for borrowers with past credit problems to establish a good payment history, while enjoying the benefits of a discounted rate without any early redemption fees charged beyond the discounted period. After three years, borrowers with a good payment record should find little difficulty in obtaining a mortgage from a high street lender, so this could be a relatively painless option for moving back into mainstream borrowing.”


Select & Protect appoints marketing assistant

Select & Protect has appointed Gavin Dobson as marketing assistant. Dobson was previously at Solutions Ltd where he was undertaking a similar role. Simon Hood, chief executive of Select & Protect, says: “I am delighted that Gavin has joined us. Whilst new to the financial services sector, he has a number of years experience in […]

NatWest in B2L criteria row

Brokers have been infuriated by changes NatWest has made to its buy-to-let criteria without informing them. The lender, part of the Royal Bank of Scotland group, had previously calculated how much clients could borrow by yield ratio. If there was any fall in this it would look at a client&#39s individual circumstances to work out […]

Conti Financial Services launches Swiss mortgage scheme

Conti Financial Services has launched a mortgage scheme for UK buyers of residential property in Switzerland. The scheme, offering minimum rates of 2.25% for a repayment-only Swiss francs mortgage, has been developed in response to demand from UK buyers who recognise the investment and holiday rental potential of Switzerland, and is available for property purchase […]

SHIP predicts an equity release boom after N4

Safe Home Income Plans chairman Jon King is predicting that many more IFAs will enter the lifetime mortgage market from October when it falls under the FSA regime. Speaking at a Prudential round table discussion on equity release last Wednesday, King said IFAs will feel more confident in getting involved in what is seen a […]


DB transfer showstoppers

By Jim Grant, Senior Product Insight & Technical Support Analyst Transfers from defined benefit (DB) schemes are a bit of a hot topic just now. In this article we look at a couple of factors that could prevent a transfer from happening Equalisation of pensions Prior to the Barber case in 1990, DB pension schemes typically provided […]


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