L&G offers proc fees of up to 1.25% on new Precise exclusives

Products include a BBR + 4.40% lifetime tracker and a 5.30% one-year fixed rate, available at 75% LTV with only one year’s early repayment charges.

In addition, advisers will receive a procuration fee of up to 1.25% payable as a Legal & General Mortgage Club member.

Danny Belton, head of lender relationships at Legal & General Mortgage Club, said: “This is a really positive step from Precise Mortgages in the second charge market. This competitive product offers a great opportunity for advisers to help customers who require a suitable alternative to a full remortgage. Advisers are increasingly looking towards the second charge market for solutions for their customers and as this sector of the market continues to grow, we are bound to see more product innovation and criteria development from lenders.”

Alan Cleary, managing director of Precise Mortgages, added: “We’re pleased to be able to work with Legal & General Mortgage Club to give this exclusive offer to their members. We’re committed to supporting customers with a variety of borrowing needs to offer them flexibility and choice as well as competitive products. We are confident that through Legal & General Mortgage Club we will be able to help advisers meet the needs of their customers.”