Mortgage News
Precise Mortgages eyes up second charge buy-to-let market
Precise Mortgages is planning to launch into the second charge buy-to-let market in the next three months.
The product range is still under development but managing director of Precise Mortgages Alan Cleary said the loans will be priced ‘aggressively’.
The product will be available exclusively through its top 10 master brokers which will receive enhanced procuration fees and will be featured on the Precise website on a monthly basis.
The buy-to-let second charge market has seen increased competition in June with Shawbrook, Masthaven and Blemain going head-to-head in a rate war while Central Trust joined the sector with a new range.
Precise Mortgages launched into the secured loan market in December focusing on the residential market.
The outspoken lender recently crossed swords with its own industry by accusing fellow second charge lenders of ‘ugly’ practices by using poor affordability measures.
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