Bridging lender launches prime mortgage products

Bridging lender launches prime mortgage products




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Bridging lender Precise Mortgages has launched a range of Prime Home Owner mortgages designed to compete with high street banks’ products, it was announced today.

The range of new products is focused at borrowers in the south of the country and, in particular, at those who previously may have been turned down when attempting to secure finance.

The products are priced, at their lowest, at a rate of 3.49 per cent, along with an arrangement fee of £995.

Precise has also included a remortgage option, which both refunds the valuation fee and offers £250 cashback to help with any legal fees.

The products come with some postcode restrictions, the full details of which are available on the lender’s website.

The mortgage lender, which is a sister division of Exact Mortgage Experts, told B&C exclusively in August that they had processed £12.2 million worth of apps in what was a record month, leading to the firm improving its second charge loan products.

Alan Cleary, Managing Director of Precise Mortgages, said: "Whilst many recent lender announcements have been about direct-only products, we remain 100 per cent committed to the intermediary market. 

“Our online system gives the broker the ability to get a decision in just a few minutes and, whether the borrower has a perfect credit history or not, we should be able to offer a very competitive product.  This will save brokers a lot of time and hassle, and will give borrowers the certainty of a decision they require."

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