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Precise Mortgages makes all products available to 80% LTV

Precise Mortgages has made a number of changes to its near prime homeowner mortgage products, which includes making all products available up to 80 per cent loan-to-value.

Previously the lender had only made certain products available to 80 per cent LTV, with the maximum being 75 per cent otherwise.

It has also introduced fixed product fees, ranging from £795 for lower loan sizes to £1995, to replace its percentage fees. The lower loan product, available for those wishing to borrow up to £75,000, is available at Libor plus 4.24 per cent.

It has scrapped early repayment charges on tracker products and will offer cash back and a refund of the valuation fee on many products.

Managing director Alan Cleary says: “We have recently launched a campaign to help borrowers who are finding it difficult to get a mortgage on the high street. This is just one of the initiatives we will be launching in out Prime Time for Near Prime campaign over the coming months.”

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