£25m in DIPs puts lender in prime position

£25m in DIPs puts lender in prime position


Precise Mortgages has got off to a good start since launching into the Short Term Lending market a month ago having issued Decisions in Principle on £25m of applications.

Alan Cleary, MD of Precise Mortgages said: “We have had a decent start but there is still a long way to go. The feedback from the brokers who have submitted business is very encouraging but we still have a lot of improvements planned for the coming months.”


Last month Precise Mortgages carried out a survey with over 2000 mortgage borrowers to gauge customer perceptions and behaviours. A disturbing result was that 19 per cent  of people stated that they believed they would be unable to get a mortgage in the next 12 months because there is not enough money to fund mortgages. 



Commenting on this Alan Cleary said “This is a common view held by customers but things have moved on. The big banks are repaying the special liquidity scheme more quickly than anticipated and funding has become less of an issue than a couple of years ago. Precise Mortgages is a good example of this as we have strong levels of funding to deploy in both Short Term Lending as well as Near Prime home owner mortgages.”

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