View more on these topics

Platform cuts LTVs and raises rates

Platform has become the latest lender to tighten its lending criteria and increase rates across its non-conforming range by 1 per cent.

It is lowering its maximum loan to value from 95 per cent to 90 per cent.

This follows similar moves by both GMAC-RFC and Mortgages plc.

Platform has reduced its first-time buyer maximum LTV from 95 per cent to 85 per cent on all products and maximum loan to value for newbuild properties has been cut from 95 per cent to 85 per cent for houses and 80 per cent for flats.

The company has tightened its lending criteria even further by stating that it will no longer accept FTBs on its buy to let or house plus.

The changes also see light and medium-adverse non-conforming buy to let removed and the firm has introduced restrictions on maximum county court judgments and arrears limits for heavy adverse.

Platform has also raised rates on its prime range by an average of 0.4 per cent.

Platform managing director David Tweedy says: “Due to ongoing activity within the global capital markets and the subsequent general concern felt by funding providers over credit, we have decided to make adjustments to our lending criteria and pricing.”

Cheltenham & Gloucester has increased rates on all its Assist and Access fixed and tracker products by 1 per cent but says it will still be paying a 0.65 per cent procuration fee on assist cases.


Zurich adds protection duo

Zurich is offering two new protection products, decreasing mortgage cover and level protection plan.

Figure out a formula for discounts

Paul Kennedy, director of trusts & tax planning solutions at FundsNetwork, sets out the calculations that need to be made on discounted gift trusts

RDR – will it all end in tiers?

With the first stage of the retail distribution review now published, it seems time to step back and summarise how we think the review will affect the IFA community. To use a cliched analogy, the RDR is a bit like a curate’s egg, good in parts. Particular parts can be applauded, such as factory gate […]

Performance art

Why are performance figures left out of group pernsion statements?

US election

Capital Market Notes, November 2016 David Lafferty, chief market strategist at Natixis Global Asset Management, looks at the impact on markets and portfolios since the somewhat surprising outcome of the US election. Click here


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm