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Precise Mortgages begins lending to contract workers

Specialist lender Precise Mortgages has begun lending to contract workers for the first time.

The criteria change applies to all of the lender’s residential range, including both first and second charge products.

Managing director Alan Cleary says: “This criteria improvement coupled with our recent changes to self-employed criteria make us a natural choice for brokers looking to place cases where the applicants have non-standard employment contracts.”

Last week the lender overhauled its self-employed criteria which saw it begin lending if a borrower has just one year’s certified accounts or SA302.


Robert Sinclair

Sinclair predicts proc fees war

Association of Mortgage Intermediaries chief executive Robert Sinclair expects a spate of lenders to increase their procuration fees before the end of the year in order to meet their lending targets. Speaking last week at the Association of Short Term Lenders’ annual conference in London, Sinclair said he predicts the average procuration fee paid for […]


Caption Competition – 24 September 2014

Can you put the boot in to your nearest and dearest to win a delicious box of Hotel Chocolat milk chocolates? Submit a witty caption for the photo above and you will be automatically entered into our prize draw. Remember, the funnier it is, the more likely you are to win. What are you waiting […]


Ex-SJP partner fined £300k and banned

A mortgage boss and former senior partner at wealth manager St James’s Place has been banned and fined £300,000 by the FCA. Between 2004 and 2010, Peter Carron, formerly a senior partner at St James’s Place, advised 11 clients to invest a total of £2.4m in three companies of which he was director and majority […]

CML - 700

CML figures show gross lending shot up 13% to £18.6bn in August

Gross lending shot up 13 per cent year-on-year in August, according to figures published last week by the Council of Mortgage Lenders. Lenders advanced £18.6bn in August, up from £16.4bn in the same month last year. On a monthly basis, lending was down 5 per cent from the £19.7bn lent in July. While lending was […]


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