Precise to launch direct to broker seconds proposition
Precise Mortgages is launching a direct to broker second charge proposition on 5th May, with brokers receiving a procuration fee of 1.25% for direct business.
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Precise says the addition of a direct submission route alongside its newly streamlined master broker panel will give mortgage intermediaries more choice in how they submit second charge lending cases.
The new second charge loan rates start from 4.45% with a £300 product fee, or 4.75% with no product fee.
The suite will include Residential Prime, Almost Prime, Near Prime and Buy to Let Prime ranges.
Alan Cleary, Managing Director of Precise Mortgages said:
“We firmly believe this direct to broker second charge proposition will improve the choices available to the mortgage intermediary market and to the end consumer. We are in talks with many major mortgage clubs and networks about bringing this opportunity to as many brokers and advisers as possible and anticipate making a number of announcements very soon.”
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