These products are Platform’s first fixed rate products for over a year and have been made possible due to the recent decrease in the price of fixed rate funds.
The two-year and five-year buy-to-let fixes are priced at 5.70 per cent and 5.85 per cent respectively. The two year self-cert deal is priced at 5.85 per cent.
On Wednesday the Bank of England announced that its target of achieving an inflation rate of 2 per cent in two years time would be met.
This prediction would back a number of commentators who forecast that interest rates had peaked, leading to the possibility of even cheaper fixes in the future.
The three mortgage offerings are; a two-year fixed rate buy-to-let mortgage, a five-year fixed rate buy-to-let mortgage, and a two-year fixed rate self-cert mortgage.
All three of these products are offered on an 85 per cent loan-to-value (LTV) basis.
Commenting on the product news Andy Pratt, managing director of broker Alexander Hall, said: “Fixes are looking better value at the moment, hopefully now that lenders are through regulation we will start seeing greater innovation from lenders.”
Guy Batchelor, sales and marketing director at Platform, commented: “In recent weeks we have received considerable interest from intermediaries requesting fixed rates. By monitoring the money markets closely and having the support of Britannia’s treasury team, we have been able to launch these products to meet the demand of our customers.
“Having both successfully launched our online pre-sales KFI on Monday and implemented all the changes needed for regulation, we will now be concentrating on improving our range of products for intermediaries.”
