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Precise launches prime product range

Precise Mortgages has today launched a range of prime home owner mortgages aimed at borrowers in the south of England.

Rates on the two-year fixed rate products start at 3.49 per cent at 70 per cent with an arrangement fee of £995. Rate on the five-year fixed start at 3.89 per cent. The products are available from 70 to 80 per cent LTV.

A ‘cascading range’ is also available that falls between prime and near-prime lending and is aimed at borrowers with minor blips on their credit history over the past three years. Rates start at 4.19 per cent on the two-year fixed which allows for no county court judgements in 36 months and no mortgage arrears in 24 months.

There is also a remortgage option available which comes with a refund of the valuation fee and £250 cashback to help with legal fees.

Precise says it will launch a range of base rate-linked trackers within the next month and says it is currently looking at launching a first-time buyer product – probably next year – at 90 per cent LTV.

Precise Mortgages managing director Alan Cleary says: “Whilst many recent lender announcements have been about direct-only products, we remain 100 per cent committed to the intermediary market.

“Our online system gives the broker the ability to get a decision in just a few minutes and whether the borrower has a perfect credit history or not we should be able to offer a very competitive product. This will save brokers a lot of time and hassle and will give borrowers the certainty of a decision they require.”

Trinity Financial Services head of communications Aaron Strutt says: “It is a nice start. It is going to be difficult for them to compete with the biggest lenders and they’ve got quite a bit of competition in the market.

“It’s good to see more of these products. With lenders cutting back at the minute and with some difficulty in processing a number of the cases, it’s good to have an alternative option.”


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Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.


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