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Joint mortgage applicants singled out by Platform

Platform has launched a mortgage range available only to joint applicants.

The intermediary mortgage provider has unveiled a two-year fixed-rate mortgage with rates starting from 3.19 per cent, which is available through Connells, Countrywide, Intrinsic, L&G, London & Country, Openwork, PTFS and Sesame.

The product has a maximum loan to value of 80 per cent and an arrangement fee of £1,495.

Business development director at Platform Lee Gladwell says: “This product does not penalise sole borrowers. Platform still offers products suitable for different types of applicants.

“Our analysis shows joint applications represent a lower risk and perform better than some market segments for single applicants. We have been able to offer this product at reduced rates by making it available only to joint borrowers.”

Emba group sales and marketing director Mike Fitzgerald says: “I really like the idea and I can see other lenders copying it.

“For brokers, the vast majority of clients are joint applicants. This will enable them to steal a march on their marketshare.”

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