Platform set to launch near-prime product range

Platform Home Loans has announced it is to move up the credit spectrum with the launch of a new product range targeting the near-prime market. Key features of the new Premier Range are 95% LTV for house purchase combined with a competitive starting rate of 2.75% over Libor, only 1% over mainstream lenders' standard variable rate. Loans up to 90% are available on remortgages and 85% on right-to-buy mortgages. While the LTV is higher than other loans in Platform's product range, qualification criteria is tighter. Three county court judgements are permitted to a maximum of £3,000 and one mort...