The product is initially available through AToM and First Complete exclusively but it expects to widen out to other distributors if the product proves popular.
Alan Cleary, managing director of Precise Mortgages says:
“I expect this to be a popular product as we all know how difficult it is for borrowers at the moment. We are proud to be offering a product that is only available through intermediaries; as the high street banks increase their marketing budgets, the size of the intermediary mortgage market will decrease; we hope that the new product will encourage customers to visit brokers rather than go to high street banks.”
Dale Jannels, managing director of AToM comments:
"This is a superb product from Precise and caters for a gap in the current near prime market.
"Near prime is, once again, becoming a large part of our business and this product offers an excellent LTV and some customer friendly criteria. We are delighted, privileged and excited to be launching this product and look forward to assisting many customers that currently are not being catered for.”
