The self certification two year fixed rate, to 1 July 2009, starts from 5.79% at 75% LTV and is available to 90% LTV. The reversionary rate is BBR + 2.00%. An arrangement fee of £695 is payable and ERCs of 5% are payable until 1 July 09, with one month’s notice or 1% payable thereafter.
The buy to let three year fixed rate, to 1 July 2010, starts from 5.79% at 75% LTV and is available to 90% LTV. The reversionary rate is BBR + 2.00% up to 85% LTV and +2.25% up to 90% LTV. An arrangement fee of £699 is payable for the 125% rental calculation option and £999 for the 110% rental calculation option. ERCs of 5% are payable until 1 July 2010, with one month’s notice or 1% payable thereafter.
Non conforming fixed rates are available on Platform’s Almost Prime and Minor Adverse ranges, including right to Buy. The two year fixed rate, to 1 July 09, starts from 5.89% at 75% LTV on the Almost Prime scheme and 6.09% on the Minor Adverse scheme. The three year fixed rate, to 1 July 2010, starts from 5.79% at 75% LTV on the Almost Prime scheme and 5.99% on the Minor Adverse scheme. Both products are available up to 95% LTV across these fixed rate options and the reversionary rate depends on the product selected. There is also a 0.20% loading for self certification above 85% LTV. A 6% ERC applies during the fixed rate periods, with one month’s notice or 1% applying thereafter. None of these fixed rate products is available on Platform’s Remortgage Special products.
Helen Hymos, PMPA’s lender relationship manager, said: The PMPA Platform relationship is very important to us. We are pleased to have these very competitive products, which are across a range of asset categories. Many PMPA members benefit from in house underwriters and, with their binding decisions and cascading, these products should prove to be highly attractive to our distribution. Funds for these fixed rates are limited, so early applications are advisable.”
Richard Beardshaw, Platform’s Head of Sales said: “We are delighted to be working with PMPA once again to bring these very competitive products to market.”
PMPA member packagers are: Countrywide Mortgage Centre, Niche Mortgage Solutions, ATOM, BDS, Complete, Finance and Mortgage Solutions, The GHL Group, KGB Packaging, Knight Funding, Open Door Solutions, OPM, Premier Mortgage Centre, Premier Mortgage Packagers and Primrose Mortgage Processing.
Full contact details can be found on the PMPA website: www.pmpa.info
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