The residential loans are offered at 5.74% up to a 50% Loan-To-Value, 5.99% on deals to 60% and 6.49% for those up to 70% LTV.
Only-available through Barnet-based distributor Platinum Options, the lender accepts ‘one explainable and satisfied payment issue at any period for any amount’, subject to review by the society’s underwriter alongside six months of clean personal banking statements.
The repayment-only loans, which run to 31 July 2013, are offered with free valuations and legals. Customer charges include a 1.75% completion fee, or minimum client fee of £3250. Brokers receive procuration fees of 0.40% to a maximum of £1,000.
Platinum, based in Barnet Hertfordshire, listed its first non standard mortgage on TrigoldCrystal in May, after an 18 month trial with Buckinghamshire and has a meaningful credit line from the lender.
Tony Bunting, co-founder of Platinum Options, said: “A one off credit problem from a normally responsible person with years of unblemished history should not prohibit that person from obtaining mortgage finance especially if it is obvious that the problem was out of their control and has been corrected. We are therefore fortunate that we have a lender partner in the Buckinghamshire BS who understands this and is willing to look at each case on its merits.
Ivan Gould, chief executive of lender Buckinghamshire BS, said: “We look at each applicant’s circumstances and underwrite every mortgage individually. Our credit assessments are never automated which allows us to take a view on each individual applicant.”
Platinum has recruited two new sales managers – Malcolm Fitchett and Steve Palmer, both previously at the Halifax – to work with brokers in the South.
