Secondly, there are to be new product launches to broaden its client base.
Thirdly, full term non-conforming discounts will now run from completion instead of a specific end date.
Finally, there is to be an extra 0.25 per cent bonus discount on all non-conforming products received before June 2004, providing discounts of up to 2 per cent and rates as low as 4 per cent.
Commenting on the plans for this year Guy Bachelor, director of sales and marketing, said: “We believe we can increase our share of the non-conforming sector. Last year we lent just under a billion in that market, this year our target is one and a half billion.”
Emphasising the importance of packagers to Platform he said: “Within our three-year plan they play a very important part.”
On the issue of funding networks he said that while there was some budget for this, the criteria would be stringent. “The cheque book is definitely not open,” he commented.
Reacting to the developments Rob Clifford, managing director of Mortgageforce, said: “There is growth to be had in the sub-prime market where branding comes second to service and remuneration. Platform are good players.”
