Why direct only mortgage products may not be so great for borrowers


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.”


This entry was posted in Mortgages and tagged , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *