Three weeks ago, the lender launched a completely revamped set of core products designed to increase volumes by making the products more keenly priced and criteria changes that would allow more borrowers to qualify.
The exclusive products have been made available to PMS, Sesame, Legal & General, Openwork, PTFS, Pink Home Loans, First Complete, AToM, 3mc, Brightstar Financial and TBMC.
Highlights of the products include:
- New two, three and five year fixes with lower pay rates and extended end dates
- BTL maximum loan increased from £300,000 to £500,000
Alan Cleary, Managing Director of Precise Mortgages, says:
“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.”
