Platform Home Loans Limited market leading 2 year fixed mortgage rate with 20% deposit
The Platform Home Loans Limited market leading 2 year fixed mortgage rate with 20% deposit is aimed at purchases. It primarily concentrates on an delivering a ‘best buy’ mortgage rate but in addition also offers a ‘free’ basic valuation to reduce your set up costs. The affordability assessment also is very generous for certain applicants.
Initial Rate: 2.24% Subsequent:5.25% The overall cost for comparison is 4.9%
- Features: Fixed until 30/11/2016. Free basic valuation.payable of 4.54%. Free basic legal service.
- Minimum deposit / equity: 20%
- Valuation fee: FREE
- Other main lender fees: Arrangement fee £999
- Early repayment charges: 2/1% of the amount repaid in the fixed period.
MY PRODUCT COMMENTS: The initial rate is ‘top of the shop’ for applicants with exactly a 20% deposit. To compensate the underlying rate is higher than average – therefore you must be ‘willing and able’ to remortgage when the fixed rate expires.
MY LENDER COMMENTS: Platform Home Loans Limited has consistently positioned itself on price this year. Their income multiples can be as high as 5 times salary and they will consider income from second jobs, trust funds, occupation pensions, profit from let properties, Working Tax Credits and Child Tax Credits which can set them apart from other lenders.
For more information on our range of 2 year fixed mortgage products please complete the enquiry form on this page or call us on 020 7993 2044.
Rates current as at 10/10/14. The overall cost for comparison is based on a property value of £250,000 over a 25 year term. Repayment for Residential and Interest only for Buy-to-let. The product is based on a property in England (but may also be available in other countries). Eligibility will depend on your own personal circumstances.
The purpose of this web is for information only and is based on a fictitious illustrative scenario. It does not constitute a Mortgage Offer in any way.
It is essential that you seek independent mortgage advice as a suitable product will be based on your own individual circumstances. An interest rate should not be read in isolation, and you should refer to your personal key facts illustration and Mortgage Offers for full terms and conditions. If anything is unclear it should be discussed fully with both your mortgage and legal advisors before entering into a mortgage contract with the lender.
For full details about the information on this page please read our product research and disclaimer wording.
Your Home is at Risk if you do not keep up with your mortgage repayments.
Author: Payam Azadi
Payam Azadi is a partner at Niche Advice who are whole of the market Independent Mortgage Brokers. His role is very much focused on Property financing both on residential and commercial lines.