Precise Mortgages has improved the criteria on its near-prime range to include an 85% LTV product.
The product is initially available through AToM and First Complete exclusively, but it expects to widen out to other distributors if the product proves popular.
Alan Cleary, managing director of Precise Mortgages, said: “I expect this to be a popular product as we all know how difficult it is for borrowers at the moment.
“We are proud to be offering a product that is only available through intermediaries.
“As the high street banks increase their marketing budgets, the size of the intermediary mortgage market will decrease; we hope that the new product will encourage customers to visit brokers rather than go to high street banks.”
Precise Mortgages starts a nationwide series of road shows in November, using a Routemaster bus to promote the benefits of consumers using mortgage intermediaries instead of high street banks.
To book a place, visit www.precisemortgages.co.uk
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