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Platform boosts range of non-conform deals

Britannia Building Society subsidiary Platform has enhanced its non-conforming product range.

Platform has added a fast-track product at 75 per cent to its existing range at Libor plus 3.50 per cent and has also extended its bonus discount, offering an extra 0.25 per cent discount to one year, 18-month and two-year discounts on all cases received by January 31 2005.

Margins on medium adv-erse, fast-track and right-to-buy products have been reduced by up to 0.75 per cent and Platform is offering £500 cashback on all fast-track products. It is also launching a new right-to-buy product range which it says has thinner margins.

Platform says that while it has not had a major review of its non-conforming range for nearly a year, the performance of its non-conforming loan book has been good and it is therefore keen to originate more volume in 2005.

Sales and marketing director Guy Batchelor says: “We are delighted that our new right-to-buy range is marketleading in terms of price and loan to values available. In recognition of the growth of remortgage business, we have also launched new products in the form of a new 75 per cent fast-track mortgage and a £500 cashback on the whole fasttrack range to help these borrowers meet the costs associated with remortgaging.”


Mortgage Trust – Fixed Rate Buy-to-Let

Type: Fixed-rate buy-to-let mortgage Fixed term: Until December 31, 2005 Fixed rate: 5.95% Minimum loan: £30,000 Maximum loan: Full status &#45 Up to 85% of valuation subject to a maximum of £250,000, up to 80% of valuation subject to a maximum of £500,000, up to 75% of valuation subject to a maximum of £1m, up […]

Barclays Global Investors – i-Shares MSCI Japan

Type: Exchange traded fund Aim: Growth by tracking the performance of the MSCI Japan Index Minimum investment: Subject to negotiation with a stockbroker Investment split: 100% tracking the performance of the MSCI Japan index Place of registration: Dublin Isa link: Yes Pep transfers: Yes Charges: Annual 0.59% Commission: None Tel: 020 7668 8007

Tory pension promise not costed- BSA

The Building Societies Association has hit out at promises made by the Conservative Party at their annual conference in Bournemouth to use unclaimed assets in banks and building societies for victims of pension wind ups. The BSA says this is an uncosted policy, as no thorough work has ever been undertaken as to the full […]

Merger gets go ahead from Sofa members

Sofa members voted today for the proposed merger with the LIA to go ahead. LIA members also voted overwhelmingly in support of the merger on Wednesday this week, giving it the green light to go ahead. The 25,000 existing members of both bodies will be transferred into the Personal Finance Society by January 2005. Sofa […]

The death of retirement – a boost for protection?

According to our recent report on the death of retirement, changes in workplace pension provision mean that coming generations of retirees could have a radically different experience of retirement from their parents. The average contribution rate into an old-style final salary pension was around 20% of total wages, the statutory minimum for a new automatic […]


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