This is Pink’s third branded lending venture following on from deals with GMAC-RFC and Mortgages plc.
The deal includes a range of exclusive sub-prime and self-cert products available through Pink from 14 June. The self-cert products are linked to bank base rate and offer cashback while the sub-prime products cater for light, medium and heavy adverse with a 2.45 per cent discount for the first year linked to the LIBOR rate.
Mark Howell, marketing manager at Pink Home Loans, commented: “We are delighted to welcome Platform as our third branded lending partner and have designed a range of attractive products that intermediaries will find hard to resist.”
Guy Batchelor, sales and marketing director at Platform, said: “We are looking forward to working with Pink. As a major distributor for us in the market, branded lending is a natural extension of our relationship.”
Commenting on the announcement, Rob Clifford, managing director of Mortgageforce, said: “It is crucial for networks to stand out in this marketplace and one way to do this is to offer bespoke products. The question is: will closer ties with lenders affect the impartiality of networks? By offering a number of branded lenders Pink may be attempting to demonstrate their independence.”
