The new range, the first of its kind for the lender, follows on from the launch of clickdecision, Platform’s new online decision facility.
Both the Almost Prime & Near Prime products have four different rate options including 3 Year Trackers and 2 & 3 Year Fixed Rates with no early repayment charge overhang. Plus, they are available up to 95% loan to value on a Full Status basis and up to 85% loan to value for Self-Certification (Right to Buy option max 85% LTV).
Key features
- Almost Prime - caters for credit score fails (no CCJs in the last two years and no arrears in last 12 months). Rates starting from 4.97%
- Near Prime - allows for £500 CCJs (none in last three months) and no arrears in last 12 months. Rates starting from 5.07%
- No early repayment charge overhang on 3 year tracker and 2 & 3 year fixed rates
- Right-to-buy option available
- 0.5% Introducer Fee
Guy Batchelor, Sales & Marketing Director at Platform said: “These new Almost and Near Prime ranges take Platform into new territory, by offering competitive, conforming rates to those who traditionally are seen as non-conforming clients. When developing the range, we anticipated that these would be popular but since launching clickdecision at the beginning of July, we have seen, on average over 100 accepted decisions a day for these products alone. Given their immediate popularity, we believe this new range will enable us to realise our plans for increasing market share in the non conforming market.”
