View more on these topics

Precise launches near prime campaign

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.”  

Recommended

Newsletter

News and expert analysis straight to your inbox

Sign up
Close

Why register with Mortgage Strategy?

Mortgage Strategy continues to be the market-leading B2B mortgage publication in the UK, and provides trusted, independent insight with the aim of helping, promoting and analysing the latest developments for mortgage professionals.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Mortgage Strategy Events
Be the first to hear about our industry leading conferences, awards, webinars and more.

Research and insight
Take part in and see the results of Mortgage Strategy's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now