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New full term trackers from Platform

Platform, the intermediary lending arm of Britannia Building Society is enhancing its buy to let range with the launch of two full term tracker mortgages.

There are no redemption charges. The rate for full term tracker 1 is the base rate plus 1.35 per cent for the life of the loan. The rate for full term tracker 2 is the base rate plus 0.99 per cent for the life of the loan. The maximum LTV on both trackers is 85 per cent..

Additionally, Platform is reducing its rental income calculation from 130 per cent to 125 per cent. For example, a five year tracker mortgage of £100,000 at 5.65 per cent the monthly rental income required at 130 per cent is £612. But when this is reduced to 125 per cent, the monthly rental income gos down to £588.

Platform sales & marketing director Guy Batchelor says: “The performance of our buy to let loans has been exceptional and as interest rates have increased over the last eighteen months, we want to be in a position where we can attract more business.”


Tangled web of IFAP charges

I am writing to formally voice my strong objections to the situation regarding the changes to the “standard” entries for the IFA Promotion website. I have just learnt that if, as I intended to do, one remains with the standard entry, the web address and, more impor-tantly, your email address are no longer going to […]

Supermarkets considering child trust funds

Supermarkets including Sainsbury and Tesco are believed to be considering entering the market for child trust funds Money Marketing understands that Sainsbury and Tesco are both looking at the market. Both supermarkets have loyalty points schemes which enable them to target customers expecting children with life insurance and they would easily be able to extend […]

A consumer&#39s view

The FSA report on closed with-profits funds provides no comfort for the millions of investors whose money in these funds is languishing, earning little or nothing. About 66 with-profits funds out of a total of 110 funds are closed to new business and about £191bn of investors&#39 assets are locked in, trapped by hefty withdrawal […]

Mortgage Trust appoints new business development manager

Mortgage Trust has appointed John Clements as business development manager with immediate effect. Clements will be reporting to head of sales and marketing Austin Jelfs and will focus on enhancing intermediary relationships in the south west. He joins from Marlborough Stirling. He says: “I am delighted to join Austin and his team at such an […]


Out from the long grass? An IT and NI merger

Those with a long memory will recall that at the start of the last parliamentary term George Osborne announced his intention to merge income tax (IT) and national insurance (NI).  Headline grabbing as the initiative was, the reality of the complexities, challenges and costs of such a move resulted in this idea being kicked into the political long grass.


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