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Precise relaunches deals for adverse credit borrowers; Kent Reliance adds resi mortgages – round-up

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  • 01/04/2022
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Precise relaunches deals for adverse credit borrowers; Kent Reliance adds resi mortgages – round-up
Precise Mortgages, part of OSB Group, has launched a range of products for people with less-than-perfect credit profiles, including those with county court judgments (CCJs), defaults and active debt management plans (DMPs).

 

Products will be available up to 85 per cent loan to value (LTV) and the lender will re-introduce its tier 5 products for those with high levels of adverse credit up to 80 per cent LTV. 

Borrowers who fall under the tier 5 category include people with a maximum of two defaults in the last two years, one CCJ in the last two years or one missed mortgage payment in the last 12 months. 

All products offer a refund on valuations. 

Precise will also relaunch its right to buy products at 90 and 100 per cent LTV of the discounted purchase price for those with less-than-perfect credit profiles. 

Adrian Moloney, group intermediary director at OSB Group (pictured), said: “This latest residential product offering from Precise Mortgages gives brokers and their customers the flexibility to access finance even in the most complex circumstances. The pandemic has undoubtedly left a mark on many customers who may be struggling to secure lending elsewhere and this range could provide a simple solution, especially for those with an impacted credit score.

“It’s good news for brokers too as our automated cascade system filters cases through our tiers until an appropriate product is found without the need to reapply.” 

Danny Belton, head of lender relationships at L&G Mortgage Club, added: “This is a welcome announcement from Precise Mortgages and a real boost to our customers who may have less-than-perfect credit through no fault of their own.  

“As a broker, it’s a great feeling to be able to secure finance that supports a customer’s individual needs and helps take the pressure off them.” 

 

Kent Reliance for Intermediaries launches residential range 

Kent Reliance for Intermediaries, part of the leading specialist lender OSB Group, has launched residential mortgages up to 90 per cent LTV with no maximum loan amounts on selected products. 

The products are expected to be suitable for young professionals, entrepreneurs, self-employed and contractors as well as those with multi-source income streams. 

There are purchase and remortgage options as well as two-year tracker deals. 

Moloney said: “This new residential range from Kent Reliance for Intermediaries shows our ongoing commitment to brokers and will be a timely boost for those clients with varied income sources who may have not been able to find a solution on the high street.” 

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