The criteria changes include providing an interest-only option across Precise’s near prime range; self employed customers who have been trading for two years, now only need to produce one year of accounts; and the maximum loan size increased to £1m.
Alan Cleary, managing director at Precise Mortgages, said: “It is a tough market for mortgage customers but we are committed to finding ways to help borrowers who have been shunned by high street lenders.
“These changes will enable brokers to help more of their customers unlike high street lenders’ branches who, despite all the hype, only sell their employers mortgages.”
Dev Malle, sales and marketing director at Personal Touch, added: “Precise has a knack of not only understanding the market and client needs but then acting upon them to give the intermediary the solutions, which as part of the advice process gives them an advantage against single tied high street lenders.
“In particular many self employed clients have been disenfranchised since the market tightened. Many of these customers are good quality lending risks and it is important that Precise has recognised this and changed their criteria accordingly. Thank you for another intermediary win.”
