As one the UK’s leading specialist lenders1, Precise Mortgages has always championed Second Charge Loans as an alternative to a remortgage for customers looking to capital raise by releasing equity from an existing residential property.
No ERCs or assessment fees
We’ve made our range more affordable and given customers more choice by removing early repayment charges on our Residential Second Charge Loans as well as the assessment fee for cases submitted directly to us. We’ve also increased the maximum loan amount to £500,000 to cater for evolving customer and broker demands.
Highly skilled sales team
Unlike most specialist lenders, all of our Business Development Managers are dual-skilled, meaning they have the ability to help with both first and second charge mortgages.
Improving broker knowledge
Despite the lockdowns, our Sales Team has continued to promote Second Charge Loans by holding virtual workshops and online training sessions, increasing brokers’ product knowledge and highlighting opportunities for their customers.
Raising the profile of Second Charge Loans
We’ve continued to challenge the misconception that Second Charge Loans are a last resort for customers with less than perfect credit profiles, and helped brokers to identify opportunities when a Second Charge Loan could offer a viable solution to a wide variety of customer needs.
We understand that allowing brokers to choose the way in which they submit their cases remains as important as ever. Brokers can either submit their cases directly to us – where they’ll earn a 1.25% procuration fee and dedicated direct underwriter support from the start of their application to completion – or via our panel of master brokers if they need a little more assistance. With more than 20% of cases being submitted to us directly, our volume of direct business is one of the highest in the market. Whichever submission method brokers choose, they’ll be able to access exactly the same products.