View more on these topics

Platform homes in on adverse credit market

Borrowers with a history of bad credit ratings are being targeted by specialist mortgage providers Platform Home Loans.

Platform Home Loans 1.25 per cent discount mortgage is open to employed people and self employed people who have to prove their level of income, with unlimited levels of county court judgements (CCJs) or arrears.

The product has a 1.25 per cent discount for loans up to 85 per cent of valuation for the first year of the loan, giving it an initial rate of 8.62 per cent. After the discounted period the mortgage reverts to the standard rate of 9.87 per cent.

Looking at the products on offer in the adverse credit market, the Platform Home Loans mortgage is the most competitive. According to Moneyfacts on January 18, 2001, the next most competitive adverse credit mortgage open to borrowers with unlimited levels of CCJs or arrears is the 8.88 per cent mortgage from Genesis Home Loans, which has a discount of 1.25 per cent for one year.

Recommended

Furness flexs base rate tracker

Furness Building Society has brought in the new flexible lifestyle mortgage. Flexible lifestyle is a flexible tracker mortgage that is aimed at first time buyers and people who are looking to remortgage their homes. The mortgage is set to track the Bank of England base rate, with Furness guaranteeing that the mortgage’s rate will never […]

Lloyds TSB staff back Abbey merger

Lloyds TSB&#39s staff union has backed its proposed takeover of Abbey National subject to a guarantee on retention of their jobs. The Lloyds TSB union has written to the Office of Fair Trading saying it supports the takeover. In its internal newsletter, the union&#39s general secretary Ian Partridge says: “With high levels of natural wastage […]

MG Rover employees refused mortgage protection by CGNU

Employees of MG Rover are being refused mortgage protection insurance by CGNU. An MG Rover employee was refused mortgage protection, to cover illness or redundancy, as a result of &#39uncertainty&#39 over the firm&#39s long term future, according to reports in the Financial Times. Vincent O&#39Meara, a worker at the Longbridge plant, was told that CGNU […]

Building society advances down in December

Building society gross advances amounted to £2,037m in December 2000, down 14 per cent from November, although still up on the previous year&#39s figures. Approvals of new loans fell by 33 per cent to £1,653m in December, down from £2,457m in November, although this reflects the removal of Bradford & Bingley from the sector following […]

Generation Rent

By Denise Wond, marketing manager We’ve heard a great deal about Generation Rent in recent years but what does it actually mean for consumers and advisers and has the face of the typical renter changed? The picture is certainly more diverse than it used to be. Homeownership is at its lowest point in 30 years, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment