Following the success of its two year non-conforming fixed rates, Platform, the "One Stop" intermediary lender of Britannia Building Society, has introduced Non-Conforming 2 Year LIBOR Trackers to its recently revised "One Stop" product range.
The new products have been launched in response to intermediaries' increasing demand for tracker products instead of short term fixed rates, following the recent increase in swap rates.
Product Highlights:
· New Non-Conforming 2 Year LIBOR Trackers, from 5.00% with a full procuration fee of 1%
· Available on a Low, Medium and Fast-Track basis with end dates until 1/1/06
The new trackers will form part of Platform's "One Stop" range, which was extensively re-designed in August to simplify the products and smooth out the lending criteria. The launch of the new non-conforming trackers is another addition to the Platform's stable of products for the non-conforming sector.
Alongside these new products, Platform's 1 Year, 18 Month and 2 Year discounts are still available across their entire non-conforming range, including Right to Buy and Buy to Let.
Guy Batchelor Sales and Marketing Director of Platform commented:
"We have experienced a real demand by intermediaries for tracker mortgages for non-conforming customers. With the level of LIBOR remaining low, we have taken the opportunity to introduce some attractively priced products, which offer better value than some short term fixed rate products in the current climate.
We have seen tremendous growth in our business since the re-design of our product range in August, and overall since our launch in early February. These new tracker products will enable us to continue with this growth, as we believe that this new range will prove to even more popular than our previous fixed rate range."
