Precise Mortgages launch exclusive products

Three weeks ago the lender launched a completely revamped set of core products designed to increase volumes by making the products more keenly priced and criteria changes that would allow more borrowers to qualify.

Alan Cleary, managing director of Precise Mortgages, says: “Our recent launch of the new near prime homeowner and buy-to-let products has instantly had a positive effect on volumes and we have already accepted £46 million of new business on the new products.

“The exclusives are designed to further promote our products whilst rewarding our leading distributors for their continued support.

“As we have said we have money to lend and are proactively finding ways to make it happen.”

The exclusive products have been made available to PMS, Sesame, Legal & General, Openwork, PTFS, Pink Home Loans, First Complete, AToM, 3mc, Brightstar Financial and TBMC.

Highlights include 2, 3 and 5-year fixes with lower pay rates and extended end dates and the maximum loan on buy-to-let increased from £300,000 to £500,000