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Platform pulls buy-to-let range and several high LTV mortgage deals

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  • 08/01/2021
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Platform pulls buy-to-let range and several high LTV mortgage deals
Platform is withdrawing its entire buy-to-let (BTL) range of mortgages, along with several high loan to value (LTV) residential products.

 

The move leaves the lender with just five new business products active on its residential range – all five-year fixes.

However, this does include two products at up to 90 per cent LTV.

Platform said it was making the move to help manage a wave of “significant demand for new mortgages”.

In a message on its intermediary website, the lender said: “On Friday 08 January 2021 we will temporarily withdraw our buy to let and selected mainstream residential products.”

In addition to the buy-to-let range, it has withdrawn:

  • Five-year fixed rate product at 80 per cent to 85 per cent LTV with £0 fee
  • Five-year fixed rate products at 80 per cent to 85 per cent LTV with £999 fee
  • Five-year fixed rate product at 90 per cent LTV with £999 fee.

 

A Platform spokeswoman said: “We’ve taken the decision to temporarily withdraw some of our products from the market as we are managing a significant demand for new mortgages.

“We are prioritising existing applications to ensure we’re able to maintain our service levels for customers.

“We will continue to review our product offering in the coming weeks with the aim to reintroduce the temporarily withdrawn products.”

 

 

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