Platform Home Loans has entered into a new correspondent lending agreement with Flagship Home Loans, part of Solent Mortgage Services, writes Adele Burton.
Platform Home Loans will provide the funding which will enable Flagship to offer a range of mortgage products to borrowers in the non-conforming market.
All products in Flagship’s non-conforming range will be eligible for a 1.6% discount until 1 June 2003 alongside 0.5% cashback on the loan on completion. Loans are available to a maximum of 95%.
Guy Batchelor, sales and marketing director at Platform, said: ‘With their new bigger discount and cashback products Flagship will be able to offer their clients a wide range of products with the added confidence of outstanding administration from Solent Mortgage Services.’
Duncan Alexander, correspondent lending manager at Solent, said that as Flagship is part of Solent, processing is simplified because it is completed at just one location.
‘For correspondent lending in general the whole process is completed under one roof at Solent’s offices. This gives greater control which means the service should be better. Once the mortgage is completed it is then taken over by Platform Home Loans,’ he said.