The product includes enhanced features added to Platforms new buy-to-let product.
Key features:
*The product is a 4.79 per cent fixed-rate to 01/10/2008 with no overhang and Pink will pay 0.25 per cent cashback on completion.
*Rental calculation at product rate - 125 per cent of monthly payment.
*In addition, Pink will pay 0.60 per cent net commission (minimum £250, maximum £5,000)
Theproduct is available via Pink HomeLoans packaged submission route.
Dev Malle, associate director of sales at Pink Home Loans commented: "This is a classic example of how Pink works with our lender partners to create an exclusive product which helps the intermediary and ultimately is a great deal for the consumer. Not only do you get a cracking headline rate with no overhang, you also get 0.25 per cent cashback. We will also pay the intermediary a 0.60 per cent fee in 24 hours of legal completion."
Guy Batchelor, sales and marketing director at Platform commented: "Platform is delighted to be working with Pink as a major distributor in a growing buy-to-let market. This is a very competitive product and combined with our click decisioning tool which provides certainty and speed, is an excellent proposition for the intermediary."
