Platform, the intermediary lender of Britannia, has revealed it plans to enhance its current product range with additions to both lending criteria and new interest rates.
In the first of a series of exciting initiatives planned over the course of this year, Platform is launching its first wave on Monday June 12 and these include increased income multiples, 90% LTV buy-to-let and wider LTV bandings.
The introduction of these products will compliment Platform’s offering in the specialist mortgage market.
With a plethora of new entrants in the specialist lending sector due to launch in the next few months and many of the existing providers widening their product offerings, Platform has decided to meet this challenge by improving its existing product range which will provide mortgage intermediaries with far more solutions for their clients.
Platform says the experience gained after nearly 10 years in the sub-prime sector plus being part of the Britannia Group, gives it a significant advantage in terms of the company’s ability to accurately assess the risks, mitigants and the pricing in this sector of the market.
Clickdecision, Platform’s online decision facility, has been adapted to cater for these new products and criteria changes.
The lender is also scheduled to enhance its online facilities with the launch of its online application facility later in the summer.
Guy Batchelor, sales and marketing director at Platform, says: “We are having a record year for completions in 2006, however the market is getting tougher due to the current competition widening their product ranges and the influx of new players.
This new product range is the first of a number of developments that Platform will be announcing over the course of the next six months which are designed to maintain and enhance our standing within the specialist mortgage sector and also make us easier to do business with.
“During the product development process, it was clear to us that these initiatives would make us ‘best of breed’ in many areas of the market and our ultimate aim was to develop a product range that would appeal to our wide ranging distribution which includes packagers, as well as mortgage brokers and IFAs.
As a lender that has been operating in the specialist sector for nearly ten years, I believe, this year will undoubtedly prove to be the most significant in terms of change and we are determined that Platform maintains it’s market position at the forefront of the specialist mortgage sector.”