PMS members and appointed representatives (ARs) of Sesame network now can offer two new exclusive near prime buy-to-let products from Precise Mortgages.
The deals are available up to 70% loan to value at 5.54% and 5.84%.
The initial fixed rate payable is determined by the level of mortgage arrears the clients may have, however, Precise Mortgages ignores any mortgage arrears older than three years.
These exclusive products have a minimum loan of £200,000 for both purchasers and re-mortgagers with a 1.25% arrangement fee.
Robert McCoy, senior product and communications manager at PMS, said: “These offerings allow our members to offer their professional landlords a competitive solution in spite of any recent credit problems they have encountered.”
Alan Cleary, managing director of Precise Mortgages, said: “These new products should be attractive to landlords who are struggling to get a buy-to-let mortgage from high street lenders.
“Not only are these exclusives better on price than our core range, they also suit a wider range of needs as the maximum loan has been increased to £500,000.”
