Precise Mortgages has launched a range of three and five-year fixes for its near-prime range.
It is offering a three-year fixed rate at 5.64% up to 70% LTV and a 6.14% deal up to 80% LTV, for those with one default in the last 24 months and one County Court Judgement. It is also offering a five-year fix at 5.89% up to 70% LTV and a 6.39% fix up to 80% LTV.
For borrowers with two defaults in the last 24 months, it is offering a 6.39% three-year fixed rate up to 70% LTV.
For borrowers who have one arrear in the last 12 months it is offering a three-year fixed rate up to 70% LTV at 7.14% and a five-year fix at 7.39%. For up to 80% LTV the lender is offering a three-year fix at 7.64% and a five-year fix at 7.89%.
It has also reduced the rate on its tracker deals from 5.28% to 4.94%.
Alan Cleary, managing director of Precise, says: “With the addition of some longer-term fixes this range will help brokers win more business and help borrowers buy more homes.”