Precise refreshes entire second charge resi range

Rates start from 4.55%, Precise's lowest ever rate, and the products are targeted at Prime and Near Prime residential customers. The range is specifically designed to allow mortgage intermediaries an alternative solution to a remortgage.

The range also includes products designed specifically for loans from £5,000 to £30,000 with zero product fee.

Bank of England Life Time Trackers start from 4.70% for Prime customers and 5.70% for Near Prime customers.

2, 3 and 5 year fixed rates have all also benefited from rate reductions, while larger loans up to £500,000 have seen a reduction of up to 125 bps.

The continued development of Precise Mortgages’ second charge proposition re-affirms its belief that second charge loans should become a natural consideration for all mortgage intermediaries.
 
Additionally, customers with a less than perfect credit history can now benefit from a near prime range where rates start from 5.55%.

Alan Cleary, Managing Director of Precise Mortgages, said:

“We continue to drive good customer outcomes through product design. This latest change sees rates reduced across the entire second charge loan range. Mortgage Intermediaries trust what we do and know that loans of this type are now a viable option for many customers.

“We are delighted to offer the right solution for all customers that may be locked into their existing mortgage as a result of criteria changes or simply because they want to protect their current mortgage rate.”