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Precise Mortgages introduces three and five-year fixes for near-prime

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Precise Mortgages has launched a range of three and five-year fixes for its near-prime range.

It is offering a three-year fixed rate at 5.64 per cent up to 70 per cent LTV and a 6.14 per cent deal up to 80 per cent LTV, for those with one default in the last 24 months and one CCJ.

It is also offering a five-year fixed rate at 5.89 per cent up to 70 per cent and a 6.39 per cent fixed rate up to 80 per cent LTV.

For borrowers with two defaults in the last 24 months, it is offering a 6.39 per cent three-year fixed rate up to 70 per cent LTV and a five-year fix at 6.64 per cent up to 70 per cent LTV.

It is also offering a three-year fix at 6.89 per cent up to 80 per cent LTV and a five-year fixed rate at 7.14 per cent up to 80 per cent.

And for borrowers with one mortgage arrear in the last 12 months it is offering a three-year fix up to 70 per cent at 7.14 per cent and a five-year fix at 7.39 per cent.

For up to 80 per cent LTV it is offering a three-year fix at 7.64 per cent and a five-year fix at 7.89 per cent.

The lender has also reduced the rate on its tracker deals from 5.28 per cent to 4.94 per cent.

Precise Mortgages managing director Alan Cleary says: “The reduction in Libor has allowed us to reduce the rates on our most popular products and with the addition of some longer term fixes, I believe this range will help brokers win more business and help borrowers to buy more homes.”  
 

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