Non-conforming lender Platform Home Loans is widening its lending criteria
for all borrowers and introducing a new loan range.
In an attempt to capitalise on what it claims is the strong performance of
its existing mortgage book, Platform will lend to borrowers with a poorer
credit history than it would previously accept.
It will now judge all cases on individual merit rather than requiring
self-certification by all applicants.
It is rolling out a new range of fixedand capped-rate products with loan
to values of up to 95 per cent compared with the previous 85 per cent LTV.
Both fixed and capped-rate loans are offered at 7.49 per cent up to 95 per
cent LTV or 7.25 per cent up to 80 per cent LTV. Loans up to £200,000
will be accepted at income multiples of 3.5 times single income or three
times joint income.
Self-certification loans for purchase are available up to 90 per cent LTV
and for remortgages at up to 85 per cent.