Precise Mortgages launch wider range of acceptable adverse
Precise Mortgages are widening their acceptable adverse credit criteria across their core and DMP residential ranges. They’re also increasing maximum LTVs to 85% for customers with recent credit blips.
Adverse Credit
New 2 and 5-year fixed rates for customers with the following adverse:
- Defaults - 5 in 24 months
- CCJs - 3 in 24 months
- DMPs - active and recently satisfied
- Missed mortgage/secured loan arrears - 1 in 12 months, 3 in 36 months (worst status)
- Unsecured arrears - not counted
LTV increase
Maximum LTV increased to 85% for customers with the following adverse:
- Defaults - 2 in 24 months (max £1,500 in 12 months, unlimited thereafter)
- CCJs - 1 in 24 months (max £1,000 in 12 months, £2,500 in 24 months)
- DMPs - active and recently satisfied
- Missed mortgage/secured loan arrears - 1 in 12 months, 3 in 36 months (worst status)
- Unsecured arrears - not counted
Download the product guide
Online criteria guide
Supporting your residential customers with less-than-perfect credit. Precise Mortgages are on the case.
Speak with your Business Development Manager to find out more about the new residential range, call the dedicated support team on 0800 116 4385, or use Live Chat.