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Platform widening criteria

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.


Bank of England keeps rate on hold

The Bank of England&#39s monetary policy committee has voted to keep its base rate at 5.25 per cent.The decision to maintain the base rate level was widely expected by economists, as cutting rates the day before the general election could open the MPC to charges of partiality.

Journalists downbeat on benefits of demutualisation

A majority of personal finance journalists think demutualisation does not lead to a better service for customers, according to a Mori survey.Of 122 personal finance journalists interviewed, 76 per cent said they did not agree that the conversion and takeover of building societies will result in a better service for customers, while only 3 per […]

The Daley Update

The Ethical Investment Research Service has set up a new website The site has several pages for IFAs, giving guidance onethical investment funds. It provides statistics, detailed listings of allforms of ethical finance, and a service to help investors find a specialistethical IFA. Schroder&#39s Medical Discovery fund has raised £445,000 for the CancerResearch Campaign. […]

A consumer&#39s view – Lorna Bourke

The vexed question of who will advise individuals on whether or not toinvest in a stakeholder shows no sign of going away. The Government&#39s contention that employees can decide for themselves looksever more ludicrous. The findings of recent surveys are not encouraging either. Bacon &Woodrow, for example, who might be exp-ected to have some of […]


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