Second Charge Loans product guide

Second Charge Loans
Contents
Page 2: Tier 1
Page 3: Tier 2
Page 4: Validation tables
Page 5: Our Preferred Panel of Master Brokers
Page 6: Contact details
Correct as of: 20.04.2015
product guide
Get in touch with our intermediary support team
0800 116 4385 (9am to 6pm, Mon to Fri)
0333 240 6084 (mobile friendly)
@Precise_Mtgs
0800 131 3180
[email protected]
precisemortgages.co.uk
Precise Mortgages
Tier 1 Residential Second Charge Loans
Plan 1 - 65% LTV
Plan 3 - 75% LTV
Plan 4 - 80% LTV
Plan 5 - 85% LTV
Min Loan
£10,000
£200,001
£10,000
£200,001
£5,000
£200,001
£5,000
£5,000
Max Loan
£200,000
£500,000
£200,000
£500,000
£200,000
£500,000
£200,000
£100,000
Min Score
300
400
300
400
300
400
350
400
4.85%
5.95%
5.40%
6.95%
6.25%
7.45%
8.35%
9.65%
PRPA140
PRPA122
PRPA144
PRPA123
PRPA148
PRPA124
PRPA152
PRPA156
BBR Tracker
2 year Fixed
3 year Fixed
5 year Fixed
Lender Fee
LTI Cap
Plan 2 - 70% LTV
5.35%
5.90%
6.75%
8.85%
10.15%
PRPA141
PRPA145
PRPA149
PRPA153
PRPA157
5.60%
6.15%
7.00%
9.10%
10.40%
PRPA142
PRPA146
PRPA150
PRPA154
PRPA158
6.35%
6.90%
7.75%
9.85%
11.15%
PRPA143
PRPA147
PRPA151
PRPA155
PRPA159
£295
£295
£295
£495
£295
£495
£295
£495
A 500
6.00
6.00
6.00
6.00
6.00
B 450
5.75
5.75
5.75
5.75
5.75
C 400
5.50
5.50
5.50
5.50
4.00
D 350
5.25
5.25
5.25
E 300
5.00
5.00
4.00
4.00
Mortgage Arrears
0 in the last 12 months
CCJ's
0 in the last 12 months
Defaults
0 in the last 12 months
Unsecured Arrears
Not counted
Min Term
36
Max Term
360
2
BBR set at 0.50%
Tier 2 Residential Second Charge Loans
Plan 1 - 65% LTV
Plan 2 - 70% LTV
Plan 3 - 75% LTV
Plan 4 - 80% LTV
Plan 5 - 85% LTV
Min Loan
£10,000
£10,000
£5,000
£5,000
£5,000
Max Loan
£200,000
£200,000
£200,000
£200,000
£100,000
Min Score
300
300
300
350
400
5.85%
6.40%
7.25%
9.35%
10.65%
PRNP041
PRNP045
PRNP049
PRNP053
PRNP057
6.35%
6.90%
7.75%
9.85%
11.15%
PRNP042
PRNP046
PRNP050
PRNP054
PRNP058
6.60%
7.15%
8.00%
10.10%
11.40%
PRNP043
PRNP047
PRNP051
PRNP055
PRNP059
7.35%
7.90%
8.75%
10.85%
12.15%
PRNP044
PRNP048
PRNP052
PRNP056
PRNP060
Lender Fee
£295
£295
£295
£295
£295
A 500
6.00
6.00
6.00
6.00
6.00
B 450
5.75
5.75
5.75
5.75
5.75
C 400
5.50
5.50
5.50
5.50
4.00
D 350
5.25
5.25
5.25
4.00
E 300
5.00
5.00
4.00
BBR Tracker
2 year Fixed
3 year Fixed
LTI Cap
5 year Fixed
Mortgage Arrears
0 in 3 months, 1 in 12 months, loan up to date
CCJ's
0 in 3 months, 1 in 12 months, Max £3,000
Defaults
0 in 3 months, 2 in 12 months, Max £5,000
Unsecured Arrears
Not counted
Min Term
36
Max Term
360
3
BBR set at 0.50%
Second Charge Loans validation tables
Validation for employed applicants
Navigator Score
Band
Plan 1 - 65% LTV
Plan 2 - 70% LTV
Plan 3 - 75% LTV
Plan 4 - 80% LTV
Plan 5 - 85% LTV
A 500 +
2 monthly or 3 weekly payslips
B 450 499
C 400 - 449
D 350 - 399
2 monthly or 3 weekly payslips, plus P60,
plus 2 months bank statements for DDM account
2 monthly or 3 weekly payslips, plus P60
E 300 - 349
Validation for self-employed applicants
Navigator Score
Band
Plan 1 - 65% LTV
Plan 2 - 70% LTV
Plan 3 - 75% LTV
Plan 4 - 80% LTV
Plan 5 - 85% LTV
A 500 +
If less than 4 LTI
1 year accounts or sa302 or tax calculation with tax year overview
B 450 499
If over 4 LTI
2 years accounts or sa302 or tax calculation with tax year overview
C 400 - 449
D 350 - 399
If less than 4 LTI
1 year accounts or SA302 or tax calculation with tax year overview, plus
2 months bank statements for DDM account
1 year accounts or SA302 or tax calculation
with tax year overview
1 year accounts or SA302 or tax
calculation with tax year overview,
plus 2 months bank statements
for DDM account
If over 4 LTI
2 years accounts or SA302 or tax calculation with tax year overview, plus
2 months bank statements for DDM account
2 years accounts or SA302 or tax
calculation with tax year overview,
plus 2 months bank statements for
DDM account
E 300 - 349
4
BBR set at 0.50%
Our Preferred Panel of Master Brokers
If you have a second charge loan to place, our Preferred Panel of Master Brokers are here to help. Simply select your Master
Broker from the list below, refer your customer and you can be confident that your customer is in expert hands.
Brightstar Financial
YOUR SPECIALIST FINANCE PARTNER
The Loans Engine
01277 500 900 - option 2
0800 032 9595
www.brightstarhub.co.uk/second-charge-loans.php
www.theloansengine.co.uk
Colonial
The Loan Partnership
01273 414 422
0161 498 7686
www.cscloans.co.uk
http://theloanpartnership.co.uk
Enterprise Finance
Sensible Finance
0208 731 5333 0330 335 9986
www.enterprisefinance.co.uk
www.sensiblehomefinance.co.uk/secured-loans.php
Fluent Money
Smart Money
01204 477 600
01829 730554
www.fluentmoney.co.uk/brokers/precise-mortgages
www.smartmoneyloans.co.uk/second-charge-loans/
Positive Lending
TFC Homeloans
0845 260 7511
08456 444 222
www.positivelending.co.uk
www.tfchomeloans.com
Promise Solutions
V Loans
01902 585 052
0845 618 0280
DEDICATED TO THE FINANCIAL INTERMEDIARY
www.promisesolutions.co.uk
www.vloansltd.com
The Lending Wizard
Y3S Loans
0161 498 7686
0800 6522 052
www.thelendingwizard.com
www.y3sloans.com/precisemortgages
5
Contact Details
James Briggs National Sales Manager
Richard Keen National Sales Manager
James has accumulated 17 years’ financial services experience, with
the last 12 years spent specifically working in the secured loans sector.
Richard has over 20 years’ financial services experience
predominantly within the mortgage distribution space.
Call James if you’re in the North and would like to discuss our
Second Charge Loans.
Call Richard if you’re in the South and would like to discuss our
Second Charge Loans.
[email protected] [email protected] 07931 130021
07930 236340
Get in touch with our intermediary support team
0800 116 4385 (9am to 6pm, Mon to Fri)
0333 240 6084 (mobile friendly)
@Precise_Mtgs
0800 131 3180
[email protected]
precisemortgages.co.uk
Precise Mortgages
6
01065 (7.1)
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