Precise Mortgages has announced the launch of a new range of residential mortgage products.
The move is aimed at supporting brokers seeking lending solutions for customers with imperfect credit profiles, including those with CCJs, defaults and active DMPs.
Precise Mortgages, which is part of specialist lender OSB Group, revealed that as part of the launch, the maximum LTV for customers with lower levels of recent adverse will increase to 85%.
The lender is also reintroducing its tier five widest acceptable adverse products for customers with higher levels of adverse and at a maximum LTV of 80%.
Precise Mortgages also confirmed that its residential range will include the reintroduction of Right to Buy mortgage products, available at 90% and 100% of the discounted purchase price, and available to customers with less than perfect credit profiles.
Group intermediary director at OSB Group, Adrian Moloney, commented: “This latest residential product offering from Precise Mortgages gives brokers and their customers the flexibility to access finance even in the most complex circumstances.
“The pandemic has undoubtedly left a mark on many customers who may be struggling to secure lending elsewhere and this range could provide a simple solution, especially for those with an impacted credit score.”
Head of lender relationships, L&G Mortgage Club, Danny Belton, added: “This is a welcome announcement from Precise Mortgages and a real boost to our customers who may have less than perfect credit through no fault of their own. As a broker, it’s a great feeling to be able to secure finance that supports a customer’s individual needs and helps take the pressure off them.”
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