Precise eyes new products and says ‘business as usual’


Precise Mortgages plans to launch more fixed rate products following Brexit and says it is “business as usual”, according to managing director Alan Cleary.

In a letter to brokers, master brokers and packagers, Cleary said the management team at Precise parent Charter Court Financial Services were prepared for Brexit.

He said: “To ensure we built a strong liquidity position in the case of a Brexit causing uncertainty in the financial markets, Charter Savings Bank has been in the top of the best buy tables for months.

“As a result we are in a very strong position over and above the statement made by Mark Carney on Friday that they have an additional £250bn of liquidity available to banks through normal BofE operations.”

Cleary added that it was “business as usual” at Precise and that the firm might launch some new products “taking advantage of the reduction in swaps, especially in 5 and 10 year products”.

He said: “Our strategy is unchanged and we will continue to supply mortgage products into the intermediary market and to support our distribution partners wherever we can.”