Precise Mortgages, one of the UK’s leading specialist lenders, has relaunched higher loan-to-value (LTV) limits across its residential mortgage range and reintroduced adverse credit criteria for those with a less than perfect credit profile.
Maximum LTVs of up to 85 per cent are available for customers with historical adverse credit (up from 75 per cent), while those with more recent adverse credit can opt for products with up to 80 per cent LTV (up from 70 per cent LTV).
Key highlights of the new range include:
· Rates from 3.29 per cent
· Relaunch of near prime adverse range
· Refund of valuation (max £630)
· Reintroduction of automated cascade process*
Colin Barrett, group mortgage proposition director at Precise Mortgages, said: “We’re pleased to be able to reintroduce a majority of our core residential mortgage criteria which we had to withdraw due to the pandemic. With the increase in house prices and the tapering of stamp duty, this could make a real difference and enable our broker partners to help their customers get the residential mortgage they need. With the added benefit of being able to offer a higher LTV limit to applicants with less than perfect credit profiles, we’re providing brokers with specialist lending solutions for customers who may be struggling to find the mortgage they need on the high street.”
