Platform is launching a range of self-certification base rate trackers and fixed rates, removing the rate increases that were introduced in the summer.
For example, the two year tracker is at BBR +0.89 per cent (5.55 per cent) to 85 per cent LTV with no ERC overhang with 500 cashback. The three and five year trackers are at BBR +0.84 per cent (5.59 per cent).
Two, three and five year fixed rates are at 5.69, 5.79 and 5.85 per cent respectively.
The rates decision has been taken to ramp up business and increase market share.
The changes made by Platform in 2004 were to control the flow of new business. The rates went up by 0.25 per cent.
Platform sales and marketing director Guy Batchelor says: “Over the course of 2005 we will be further reviewing our self-certification products and criteria and will also be launching online decision in principle facility in the summer, all of which will further enhance our status in this market.”