Precise adds capital raising to Help to Buy offering

Precise Mortgages has enhanced its Help to Buy proposition to offer homeowners the option to remortgage and capital raise to repay part of their original Equity Loan.

Related topics:  Mortgages
Rozi Jones
21st October 2019
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"Our new simple and straightforward capital raising option could help these customers by allowing them to remortgage and repay part of the Equity Loan"

The enhancement is part of the lender’s wider Help to Buy proposition which now gives customers the option to purchase, choose a pound-for-pound remortgage, capital raise to repay part of the equity loan or fully repay their loan.

Precise has also produced an intermediary guide to remortgaging and capital raising for Help to Buy which can be downloaded from their website.

More than 220,000 properties have been purchased and nearly £12.5bn lent in equity loans since the launch of the Help to Buy Equity Loan Scheme in 2013.

Group managing director of Precise Mortgages, Alan Cleary, said: “The Help to Buy scheme has been a huge success since its launch in 2013, helping hundreds of thousands of aspiring homeowners take their first step onto the property ladder.

“Our new simple and straightforward capital raising option could help these customers by allowing them to remortgage and repay part of the Equity Loan which will become payable after the initial five-year interest free period ends.”

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