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Precise Mortgages launches near prime range

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Precise Mortgages has launched 50 products designed for borrowers who are finding it difficult to get mortgages from high street lenders.

The near prime, as the lender calls it, range include two year trackers, capped and fixed rate loans starting from 4.79 per cent.

Products are only available on a capital and interest payment basis and are limited in size and to certain property types.

Managing director Alan Cleary says: “We have launched an extensive range of products to meet the needs of UK borrowers in response to feedback from the broker market. Precise Mortgages is aiming to become the lender of choice for brokers who have cases that do not fit current high street criteria. 

“The extent of our range and the speed of our mortgage platform means a decision in principle will be given in minutes reducing the need for brokers to try multiple lenders or pass the case to a packager.”

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