The £230m Fitch and S&P rated transaction brings CCFS’ total issuance since December 2013 to over £600m.
All loans in the transaction have been originated by Precise Mortgages in the last 12 months and been credit scored enlisting Experian scorecards and stressed to between 2 to 3%.
CCFS, acting under its brand name Exact Mortgage Experts, retains servicing of the portfolio. Exact is a premium Fitch rated UK third-party mortgage administrator with Fitch ratings of RSS2- for its special servicing and RPS3+ for primary servicing.
In September, Precise Mortgages widened its criteria for self-employed customers and is happy to accept one year of accounts or SA302 information.