A series of exclusive products for key distributors covering near-prime BTL and homeowner loans has been launched by Precise Mortgages.

The exclusive products include an increase to the maximum BTL loan – previously £300,000 – which now stands at £500,000. New two, three and five year fixes with lower pay rates and extended end dates have also been launched.

The following distributors will have access to the products: Brightstar Financial, AToM, TBMC, First Complete, Sesame, PMS, Openwork, Pink Home Loans, 3mc, Legal & General and PTFS.

The announcement follows Precise’s revamped core products designed to increase volumes by making the products more keenly priced and making criteria changes that would allow more borrowers to qualify.

Alan Cleary, Managing Director of Precise Mortgages, said: “Our recent launch of the new near prime homeowner and BTL products has instantly had a positive effect on volumes and we have already accepted £46 million of new business on the new products. 

“The exclusives are designed to further promote our products whilst rewarding our leading distributors for their continued support.  As we have said, we have money to lend and are proactively finding ways to make it happen.”