The tracker product offers Bank base rate (BBR) minus 0.50% for one year and then reverts to BBR plus 1.95% for the remainder of the mortgage.
David Copland, sales and marketing director commented: “Platform has traditionally been known in the industry as a sub-prime specialist but following the recent merger with Verso, it now offers a competitive range of self-cert products. This particular product has a low headline rate of 3.25% for one year which reverts to 5.7% based on the current Bank base rate. It is aimed at those borrowers looking for a transparent product wishing to self-cert their income. In certain cases, no verification checks will be made.”
Self-employed borrowers must have a minimum of 2 years trading behind them to qualify for the product. Verification checks are made which include confirmation from the applicant’s accountant of the nature of the business and length of time trading. However, no verification checks are made unless the applicant is a first time buyer or not on the electoral register or if the loan required is greater than £250,000.
