The products are aimed at clients with an impaired credit history and assist with legal fee payments.
Clients wishing to purchase a property, including right to buy purchases, will benefit from a £200 cashback and a free valuation. Clients wanting to remortgage will receive a free valuation and free legals provided they use Coveyancing and Remortgage Solicitors (CARS), or £200 cashback if they are using their own solicitors.
Initial pay rates start from 4.95 per cent for almost prime and minor adverse ranges and all ranges offer LIBOR trackers or fixed rate terms. The products also include increased income multiples and reduced employment and trading times for self employed clients.
Dev Malle, sales director at Pink Home Loans, said: “Pink has a close relationship with Platform and as a result has been able to work with them to create a competitive product range. We’ve put some of our own fees back into the product to enable our intermediaries to offer their clients assistance with legal fees. Not only will they benefit from being able to offer these exclusive products, they will also benefit from twenty-four hour payment of commission once the case has legally completed. Finally on remortgages we have given the client a choice of free legals or a cashback.”
Richard Beardshaw, head of sales at Platform, commented: “I am delighted that Platform has been able to work with Pink to provide these products for the sub-prime market. Exclusives that we have launched together in the past have proved to be extremely successful and I’m confident that this range will be as popular.”
