Platform unveils joint applicant-only product

Published on

Platform has launched a product solely for joint applicants.

The two-year fixed product comes with rates which start at 3.19% up to 70% LTV.

Platform says its underwriting analysis shows that joint mortgages generally perform better than single applicants and that this has been reflected in the pricing of its first joint applicant mortgage.

Although the mortgage is for joint applications there is no requirement for both applicants to be working.

The offer is available for purchases and remortgages and provides free valuation, while standard legal fees are paid on remortgages. It comes with an arrangement fee of £1495 which can be added to the loan, and a non refundable £140 admin cost.

Lee Gladwell, business development director at Platform, said: “Platform’s analysis of its business has shown that mortgages for joint applicants have performed better than those in single names. We believe there is a strong argument for lenders to reflect their actual experience into pricing so that lower risk applicants benefit from lower rates.

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Later life lending must become ‘mainstream priority’, following FCA reform speech

Will Hale, chief executive of Key Advice & Air, has urged the mortgage industry...

FRP expands with acquisition of Arc & Co

FRP has strengthened its presence in the real-estate finance market with the acquisition of...

Metro Bank cuts rates and returns to 80% buy-to-let lending

Metro Bank has made further cuts across its residential, near-prime and buy-to-let product ranges,...

Conveybuddy appoints new business development executive

Conveyancing distributor conveybuddy has appointed Connor Nixon as its new business development executive, strengthening...

Masthaven joins TRM panel to widen access to bridging finance

The Right Mortgage & Protection Network has added Masthaven Finance to its lender panel,...

Latest publication

Other news

Later life lending must become ‘mainstream priority’, following FCA reform speech

Will Hale, chief executive of Key Advice & Air, has urged the mortgage industry...

FRP expands with acquisition of Arc & Co

FRP has strengthened its presence in the real-estate finance market with the acquisition of...

Metro Bank cuts rates and returns to 80% buy-to-let lending

Metro Bank has made further cuts across its residential, near-prime and buy-to-let product ranges,...