Spotlight: Precise Mortgages

Precise Mortgages

Precise Mortgages is a lender which specialises in residential mortgages, short term lending and buy to let mortgages. Precise Mortgages distributes its products exclusively through the mortgage intermediary market. Precise Mortgages brings new money into the UK mortgage market which will help you to help customers who have been locked out of getting a mortgage from a high street lender.

There is a fundamental shortfall in UK mortgage funding which has developed in the last two years as lenders have exited the market, rebuilt their balance sheets, restricted their lending volume and focused on very low credit risks.  Precise Mortgages believe that consumers will increasingly notice these restricted conditions when economic activity picks up.  At that point the limited lending supply will be further tested as labour mobility loosens causing increased demand from home movers.  This stage of the market will not be the normal ‘churn’, but will be the final closing of many very large ‘back books’ at lenders such as Northern Rock and Bradford & Bingley etc. and will in effect mark the permanent removal of a large amount of funding supply from the market.

Precise Mortgages believe that the current shortfall of supply to demand will extend for a long period and that there is therefore a significant market need for new lenders to bring completely new funding to the UK mortgage market. Precise Mortgages intends to provide such new funding to help meet this supply imbalance.

Precise Mortgages has secured strong funding and capital support in order to make a controlled entry into Home Owner, Bridging and private BTL lending.  Given the analytical credit skills that the Group has developed over the last three years, we believe that Precise Mortgages will be able to select segments of these markets that meet our credit risk appetite and which are currently underserved by the main lenders.

Precise Mortgages




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