The discount is 2% in year 1, 1.5% in year 2 and 0.25% in year 3. 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 .
Knight Funding’s CEO, Frances Scanlan, said: “It 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’s non conforming range which is now extended to June 30th, or this market leading 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.”
Phone Number for Knight Funding: 01980 625111
