Mortgage News
Precise cuts rates on near-prime range
Precise Mortgages has reduced the rates on its range of near-prime mortgages.
The range is aimed at borrowers struggling to get a mortgage from high street lenders.
Its fixed rate deals have been cut by 0.6% with rates starting from 5.24% for a two-year fix, available up to 70% LTV.
In addition, Precise has launched a two-year fixed rate deal, which has a rate of 5.49% and is available up to 70% LTV.
Other highlights of the near prime range include cashbacks as well as ERC-free products. The maximum loan size is up to £1m and an interest-only option is available to borrowers.
Alan Cleary, managing director of Precise Mortgages, said: “Swap rates have gone down meaning fixed rates are cheaper, so that’s something we’ve been able to pass on to our borrowers. We want to do more business which is why we’ve cut our prices to make them more attractive to brokers.”
£2.5m paid to help broker clients benefit from greener homes
Sponsored by Halifax Intermediaries
He added: “Some of the new things we’ve done with our pricing is push all the end dates on our fixes to December 2013 and we’ve also bought in a free valuation product to help reduce up-front costs.”