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Precise mortgages launches near prime range

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  • 27/01/2011
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Precise mortgages launches near prime range
Precise mortgages has launched a range of near prime products designed for borrowers struggling to get mortgage finance because of restrictive criteria.

The 50 products include two year trackers, capped and fixed rate loans starting from 4.79%.

The products are only available on a capital and interest repayment basis and are limited in size and to certain property types.

Alan Cleary, managing director of Precise Mortgages, said: “The extent of our range and the speed of our mortgage platform mean a decision in principle will be given in minutes, reducing the need for brokers to try multiple lenders or pass the case to a packager.”

Dev Malle, sales and marketing director of Personal Touch Financial Services, added that the near prime range is a real alternative for borrowers being disenfranchised by high street lenders.

“The range is only available via intermediaries which gives us a competitive advantage against bank based mortgage advisers,” added Malle.

“I believe advice is a key differentiator for intermediaries and access to these products will highlight further that if consumers want independent advice and access to the whole range of products and lenders, there is really only one option.”

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