Platform raises maximum BTL loan ceiling

Platform has launched a new range of buy-to-let products aimed at landlords wanting to purchase higher value properties.

Platform’s ‘Premier buy-to-let’ range increases the lender’s maximum loan size price for buy-to-let mortgages to £500,000.

The new two-year fixed rate and tracker rate products are available up to a maximum LTV of 65% and come with a 1% arrangement fee. The range also includes products available on a Let to Buy basis, available to customers who are purchasing a new residential property and who do not want to sell their existing property.

Additionally, all fixed rate end dates across all products have been extended to 30 April 2014.

The Premier buy-to-let products will only be offered to landlords with a minimum income of £60,000 either sole or joint, and have also increased their maximum portfolio exposure on three properties totalling £1.5 million from £1 million.

All come with free valuation for purchases and remortgages and free standard legals for remortgages.

Nick Allen, product marketing manager at Platform said: “The introduction of the new Premier buy-to-let products