All Types of Mortgages Ltd (AToM) is the latest distributor to offer new products from Precise Mortgages.
The packager exclusives are aimed at the near prime residential market with some options allowing defaults, CCJs and missed mortgage payments. Options also include a refund of valuation costs and £250 cash back.
LTVs are up to 75%, while arrangement fees are between £1,495 to £2,495 (can be added). The maximum loan amount is £300,000 and early repayment charges apply in the fixed rate period only. Normal valuation and legal fees apply.
“We have worked closely with Precise Mortgages for some months and they certainly are a lender who listens and are at the forefront of product innovation,” said Dale Jannels, managing director at AToM.
“These near prime fixed rate products are a good offering and cater for defaults, CCJs and also recent missed mortgage payments. We’re seeing a huge increase in this sector of the market, so these products are aptly timed.
“We’re also really impressed that Precise Mortgages have gone one step further and launched some super near prime buy-to-let products. This is a gap in the market and these products will assist those enquiries that currently do not have a home.”
“We continue to listen and support the intermediary market, and we hope that the new products will help brokers service good customers who may have a slight blip on their credit profile,” said Roger Morris, Precise Mortgages sales director.