View more on these topics

Precise launches prime product range

Rates on the two-year fixed rate products start at 3.49 per cent at 70 per cent with an arrangement fee of £995. Rate on the five-year fixed start at 3.89 per cent. The products are available from 70 to 80 per cent LTV.

A ‘cascading range’ is also available that falls between prime and near-prime lending and is aimed at borrowers with minor blips on their credit history over the past three years. Rates start at 4.19 per cent on the two-year fixed which allows for no county court judgements in 36 months and no mortgage arrears in 24 months.

There is also a remortgage option available which comes with a refund of the valuation fee and £250 cashback to help with legal fees.

Precise says it will launch a range of base rate-linked trackers within the next month and says it is currently looking at launching a first-time buyer product – probably next year – at 90 per cent LTV.

Precise Mortgages managing director Alan Cleary says: “Whilst many recent lender announcements have been about direct-only products, we remain 100 per cent committed to the intermediary market.

“Our online system gives the broker the ability to get a decision in just a few minutes and whether the borrower has a perfect credit history or not we should be able to offer a very competitive product. This will save brokers a lot of time and hassle and will give borrowers the certainty of a decision they require.”

Trinity Financial Services head of communications Aaron Strutt says: “It is a nice start. It is going to be difficult for them to compete with the biggest lenders and they’ve got quite a bit of competition in the market.

“It’s good to see more of these products. With lenders cutting back at the minute and with some difficulty in processing a number of the cases, it’s good to have an alternative option.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com