HSBC and Halifax have recently launched direct only mortgage deals, in contrast Precise Mortgages recently launched prime products that are competitive across all LTV bands up to 80% are only available through intermediaries.
Alan Cleary managing director of Precise Mortgages said:
“Borrowers should be seeking advice from intermediaries who can access mortgage products from a wide range of lenders rather than from branch based advisers who can only sell products from their employer”.
Precise Mortgages’ range offers a two year fixed at 2.89% at 70% LTV with a £995 fee and a revert rate of 3.92%, and at 80% LTV 3.39% with a £995 fee again reverting to 3.92%.
Alan Cleary goes on to say:
” Borrowers and brokers alike will be refreshingly surprised at how competitive our prime products are, with a revert rate and APR lower than most of the high street lenders, we believe our range is on a par if not better than what is available direct from lenders.”
John Malone chairman of PMS added:
“Brokers should support Precise Mortgages as they are giving a viable alternative to the high street. Borrowers can clearly benefit from the advice and competitive deals available exclusively to brokers rather than visiting a high street branch.”