News
Precise Mortgages launches resi products
Precise Mortgages has updated its residential mortgage range with lower rates and options for borrowers with adverse credit.
This includes the reintroduction of its mortgages at 85 per cent loan to value (LTV).
Rates for five-year fixes begin at 5.49 per cent while two and three-year fixes start from 5.79 per cent.
Precise Mortgages has also added products for borrowers with a debt management plan (DMP), with rates beginning at 5.69 per cent for a five-year fix at 75 per cent LTV.
Depending on the criteria, the DMP range allows for borrowers with two defaults in the last 24 months, one county court judgment (CCJ) in the last 24 months and one missed mortgage payment in the last year.
Adrian Moloney (pictured), group intermediary director at OSB Group, said: “We wanted to hit the ground running and provide solutions for our brokers, who together with their clients, are facing some really tough financial challenges.
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“This new range provides options for clients with less-than-perfect credit profiles, including those with CCJs, defaults and active DMPs.”