The offer doesn't apply to its prime range but this represents a considerable saving for applicants who would normally pay an application fee linked to the value of the property with a minimum charge of £200. The offer is also applicable to the non-conforming three-year tracker from Platform, that is exclusive to PMPA members and has rates from 5.02 per cent consisting of a 0.35 per cent reduction from Platform’s own core product range.
As an alternative to the £49 application fee, brokers have the option of enhanced procuration fees on the relevant core range products of between 0.75 per cent and 1.50 per cent.
Frances Scanlan, chief executive at Knight Funding, commented: “Platform is one of Knight Funding’s key lending partners so we are not only offering the £49 application fee incentive, but we also have a Platform on site underwriter to ensure fast offers and completions. As the fee is a flat rate it offers the highest savings on larger value loan sizes, and this could be a strong selling point for brokers.
Paul Hunt, head of marketing at Platform, said: ”We are delighted that Knight Funding has decided to issue this application fee incentive to its intermediaries and I have no doubt that it will prove extremely popular with them. As a lender that is committed to packagers, we are delighted that firms such as Knight Funding not only offer their intermediaries competitive products but with our onsite underwriter can also offer a high level of service.”
