**The following information should remain embargoed until 10am Friday 1st April 2022**
Back by popular demand Precise Mortgages is widening its DMP, default and CCJ criteria as well as re-introducing Right to Buy with additional bells and whistles!
Highlights include:
Adverse widened
>. 5 Defaults plus 3 CCJs now considered up to 80% LTV in last 2 years
>. No monetary cap on the value of the Defaults or CCJs
>. Adverse does not need to be satisfied
>. Active and satisfied DMPs also increased to 85% and up to 80% LTV will allow up to 5 defaults and 3 CCJs
>. Defaults and CCJs registered over 2 years are not counted
(Default and CCJ rules at 85% LTV remain unchanged)
Right to Buy re-introduced
>. 100% of discounted purchase price, maximum 75% open market value
>. PRC upgraded concrete properties NOW considered including Wimpey no fines & Laing Easiform
>. Available to houses in England only
>. All products have no product fee and a refund of valuation on completion (up to £630)
>. Less than perfect credit histories considered
(There are no changes to the Help to Buy range)
I hope that you’ll agree that these are welcomed enhancements to the already extensive Precise Mortgages residential range.
Lisa Coombes will follow up this email with the approved product guide and link to the document as soon as it is ready for distribution.
As always, we would really appreciate your support in promoting these products to your brokers and if there is anything at all you need from a marketing perspective, please let Lisa or Laurelle know and they will be happy to work with you on this.
If you have any questions regarding the above, please do not hesitate to contact either myself, your corporate account manager, or your local BDM.
