Precise add new five year fixed secured loan product

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New five year fixed secured loan

This morning Precise Mortgages has enhanced its secured loans offering with the addition of a 5 year fixed rate deal and enhancements to the “large loan” products.

Secured loans are now commonly used for larger advances, particularly where borrowers can’t, or don’t want to change their beneficial tracker, fixed or interest only mortgage. To support this growing appetite from brokers, on second charge loans from £150,000 to £500,000, Precise Mortgages has reduced the lender fees to £495. Loans up to £2 million will be considered so contacting your clients who are trapped in their existing mortgage should be a worthwhile exercise.

In addition to the tracker, two year and three year fixed rates available, Precise Mortgages has also introduced a secured loan five year fixed deal. The five year fix starts at 6.7% which is 1.75% above the tracker rate. For comparison purposes the tracker starts at 4.95%, two year fixed at 5.7% and the three year fixed starts at 5.95%. For the cautious borrower the three and five year fixed deals look pretty attractive.

Don’t forget to let your “mortgage prisoner clients” know they can keep their mortgage and raise capital another way.

www.promisemoney.co.uk

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Intermediary Guidance for Five Year Fixed Secured Loan

Structuring competitive terms on five year fixed secured loan for your clients requires direct access to specialist underwriters. In addition, our intermediary lending desk works directly with over 90 specialist lenders across the UK.

Consequently, partnering with Promise Money ensures whole-of-market broker access, transparent procuration fees, and rapid decisions in principle for your client cases.

Specialist Underwriting & Whole-of-Market Access

Because specialist lending facilities require bespoke underwriting, comparing lenders across the UK is essential. Explore our complete guide to Specialist Lending Desk to understand how different lending criteria apply to your requirements.

Promise Money is an independent credit broker authorised and regulated by the Financial Conduct Authority (FRN 681423). Our experienced team reviews your specific circumstances to secure optimal terms across 90+ UK lenders.

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Key Takeaways: Five Year Fixed Secured Loan Broker Briefing

Additionally, partnering with Promise Money gives intermediaries whole-of-market access across 90+ specialist second charge lenders.

Furthermore, direct access to our specialist underwriting desk protects client relationships while guaranteeing transparent and competitive proc fees.

Consequently, complex borrowing scenarios—including high LTVs, adverse credit, or complex income—are structured efficiently without delays.

Therefore, introducers can submit case details directly online or via phone to secure rapid Decisions in Principle.

Specifically, second charge homeowner facilities are assessed with commercial speed to meet critical funding deadlines.

Moreover, comprehensive lending criteria checklists ensure client applications are fully structured prior to lender submission.

In addition, dedicated underwriter communication guarantees updates at every milestone from enquiry through to completion.

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