Precise launches near prime campaign
Share
Precise Mortgages has launched a campaign designed to educate brokers and consumers about the availability of mortgage products for borrowers with less-than-perfect credit histories.
The Prime Time for Near Prime campaign will involve a series of announcements and innovations from Precise between now and August.
The firm says an estimated 2.1 million people received a County Court Judgment in the last three years and up to one million residential mortgage borrowers have missed a mortgage payment over the same period.
It argues a large percentage of mortgage borrowers have experienced some form of credit problem that will prevent them from obtaining a mortgage, and yet high street banks increasingly focus on those with perfect credit histories and a 40% plus equity stake.
Alan Cleary, managing director at Precise, says: “How are we going to get away from this dysfunctional market if all lenders act like the big banks? The whole housing sector seems like it is running at rates last seen just after World War Two.”
If you enjoyed this article, sign up here to receive daily email updates from Mortgage Strategy and Follow @mortgagestrat
