Exclusive: Precise enters Help to Buy scheme
Precise has announced that it will enter into the government Help to Buy scheme for the first time, with products due to launch on Thursday.
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Help to Buy Almost Prime products start from 3.55% up to 75% LTV for a 2 year tracker. 2 year fixed rates start at 3.95%, while Precice's 4 year fix is available from 4.20%.
Help to Buy Near Prime products include a 5.05% 2 year tracker, a 2 year fix from 5.45% and 4 year fix at 5.70%.
Precise's residential range currently offers a maximum LTV of 85%. The addition of a Help to Buy range now allows a 5% customer deposit to be supplemented by 5% builder incentives in addition to the scheme’s 20% contribution.
Products are available on a 30 year term subject to age at application (max age: 70) and self-employed with 1 year’s accounts will be accepted.
Precise Mortgages managing director, Alan Cleary, said the range is aimed at customers underserved by high street lenders, such as those who fail credit scores due to minor adverse, self employed, and first time buyers with limited credit history.
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