Precise Mortgages is to start lending to homeowners from November after gaining FSA approval.
The firm, with lends exclusively through intermediaries, says it will focus lending on borrowers with a credit impaired history, first-time buyers and the self-employed.
Precise Mortgages was launched in May with a buy-to-let range and is backed by US based equity firm Elliot Associates.
The FT says the move into residential mortgages took nine months to gain approval from the FSA.
Precise Mortgages managing director Alan Cleary (pictured) says: “We will shortly be launching a new range of products for owner occupiers to complement our BTL range. We also have plans to launch into new segments of the mortgage market early next year where we have identified good quality borrowers who have been starved of credit.”