Platform no longer accepting furlough; withdrawing products at 5pm today | Mortgage Strategy

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Platform is the latest lender to state that it will no longer be accepting furloughed income for new mortgage origination.

In a note to brokers, the intermediary arm of the Co-operative Bank says it has reviewed its guidance on the matter, which was first introduced in April and later extended in June.

It stresses that from Monday 14 September: “Any new mortgage cases need to meet pre-Coronavirus secured lending criteria income rules.”

The lender adds that it will also be relaunching its mainstream and buy-to-let mortgage ranges for new business and product switching on Thursday, 10 September.

Alongside this, Platform intends to temporary withdraw the following mainstream products: the 60 per cent LTV to 80 per cent LTV two- and three-year fixed rate products, the 85 per cent LTV five-year fixed rate product with £999 fee, and the 60 per cent LTV to 80 per cent LTV five-year fixed rate product with zero fee.

The above mortgages will be removed at 5pm today, 9 September, meaning that all applications must be received by that deadline.


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