This means that only the customer and the lender can see the search on the Credit Reference Agency records.
Alan Cleary, managing director of Precise Mortgages, said:
“While this sounds like a small change it is significant. Brokers can now get a decision on a near prime mortgage case in about 10 minutes without any detrimental effects on their customers’ records.
"We undoubtedly have the quickest near prime process in the market and I would go as far as saying it is now as easy to place a near prime deal as it is a prime deal.”
Gary Thorpe of NMS Financial, said:
“This is a great move as anything that makes it easier to place near prime cases has to be applauded. It is good to see a lender listening to brokers and acting on the feedback, the market needs as much innovation as it can get.”
Precise Mortgages starts a nationwide series of Road Shows in November promoting the benefits of consumers using mortgage intermediaries instead of High Street Banks, to book a place visit the website.
