The new business, formed from the merger of Britannia subsidiaries Platform Home Loans and Verso, will launch in January 2003. It remains business as usual for both operations until then.
The Platform name has been chosen following independent research conducted by Britannia with a group of leading mortgage intermediaries. The research showed that intermediaries view the one-stop shop model as a very positive move and believe that it will enable them to conduct more business, as Platform will provide mortgages for nearly every borrower regardless of credit status. It will do this by offering a wider product range, with prime to non-conforming products under one roof.
Gerald Gregory, managing director of Britannia Capital Investment Group, commented: “We have two strong brand names in Platform and Verso, so it was important to commission independent research to establish what our customers preferred. We have chosen to retain the Platform name for the new business as it perceived by intermediaries to have a particularly strong reputation for service and products.”