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Blog: On Second's Thoughts - "Specialism - let's get serious"

24 June 2015

Simon Carr, Sales Development Director

Ok, this is getting serious.

When Precise Mortgages announced its launch into the second charge market, it was a move which signalled Precise Mortgages’ intention of being the number one consideration for all mortgage intermediaries (play the theme tune – oh come on! You can have some fun whilst being deadly serious about the mortgage market). We’ve brought you an array of other products across the lending spectrum, from first mortgage residential and buy to let options, through to changing the way short term bridging finance options work for your customer. Our product teams are constantly challenging the status quo and have a room full of ideas on how they intend to continue to innovate the markets we operate in.

Our tag line – your home for specialist lending and commitment to helping those underserved by the high street, is at the forefront of our mind and pushes us to do more.

Now, if all this is not enough, some of you may have heard the name, some of you may have heard his dulcet tones and for those of you who have been lucky enough to experience one of his groundbreaking specialist lending workshops; you will no doubt have walked away with glazed eyed, yet supercharged with ideas on how Precise Mortgages can improve your customer centric solutions. That’s right; I’m talking about our Sales Director – ROGER MORRIS. We’ve rolled out the big guns into second charge lending and Roger is now also responsible for driving the second charge sales team.

So what does this tell you? For me it’s a huge tick in box – allow me to demonstrate...

• Residential Mortgages

• Residential Remortgages

• Buy to Let Mortgages

• Buy to Let Remortgages

• Residential Second Charges

• Buy to Let Second Charges

*Spoiler Alert – now you’re hooked!*

Not forgetting Gareth Lewis, our Director of Bridging Loans who is able to offer an array of regulated and non regulated bridging solutions.

• Regulated Bridging Loans

• Non Regulated Bridging Loans

Now that’s an impressive list – RIGHT? The good thing about this is that Roger and his team can now offer you a range of financial solutions and not just pigeonhole your customer into a mortgage box. Roger and the team will offer you, correction; you will be able to offer your client the most suitable financial solution.

Here’s a fact (get ready for the technical bit – it’s like the technical part of a shampoo advert – imagine the complex formula on your TV screen): you can use any of our products in conjunction with each other. Have a look at this example:

You could raise £100K, by way of a second charge, secured on your customer’s residential property (DEAL1) to place £25K deposits across 4 buy-to-let £100K purchases, raising £75K on each by way of a first charge (DEAL 2, 3, 4 and 5). I’m sure marketing would badge this as Buy to Let and Go! So, 5 Deals, from 1 lender, across a range of products – now that is what you call specialism from a specialist lender.

Now to all Mortgage Intermediaries (play the theme tune) – that’s dedication.

That’s what you need. If you wanna be the best and you wanna beat the rest. Oo-ooh! Education is what you need. (Trumpet Solo) Education’s what you need, if you wanna be a mortgage broker!

Ladies and Gentlemen of the Mortgage intermediary world – I thank you!

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Onwards and upwards

03 June 2015

Simon Carr, Sales Development Director

So, May 2015 saw an important event take place – the General Election I hear you say? Nearly, but not quite – I’m talking about the launch of our second charge loan e-book, which I am sure you will all agree was a momentous, if not life changing, experience for the reader.

You know the one, where I encouraged you all to share the (second charge specific) love (aka e-book) far and wide. If this is the first time that you are hearing about the e-book, carry on reading – believe me when I say you don’t want to be the last to know about this! (Go on then, for a sneaky peak before you read the full blog you can take a look at the e-book here.)

With over 200 views, shares and likes of the e-book, I’ll admit, I’ve been impressed…But, I’ll also admit that I always want that bit more and this is where I need you and your super share skills to get this e-book out there far and wide!

Challenge accepted? It couldn’t be easier – read the previous blog below, follow the share instructions and away we go.

Why do I want to go viral?

Let’s face it; the whole is greater than the sum of its parts!

I’ll be honest with you: I don’t care who does it, be it other lenders, our Preferred Master Brokers or Mortgages Brokers (play the theme tune) and so on. This is definitely a case of the more the merrier and, after all, we are all driving the same objective, to raise the profile of second charge loans across the mortgage intermediary industry.

So here’s what you get for spreading the word. You get an e-book, let’s call it Education (see what I’ve done there - read my previous blogs), not to mention possibly one of the greatest opportunities ever presented to you. It’s not a cheap scam – there are no hidden costs, definitely no upfront fees; it’s free – think of it as a safety blanket.

In my previous blogs, I discussed education, education, education with a small pinch of dedication – know your market; become a grandmaster of your specialist noble art!

**Shocking spoiler alert** I really don’t care if Prestige Finance, Paragon, Nemo Personal Finance, Blemain Finance, Optimum Credit, Masthaven or Central Trust get deals referred to them off the back of this blog and its viral intent! What I do hope is that Master Brokers, Lenders, Mortgage Networks, Surveyors and Mortgages Brokers (play the theme tune) unite to create a truly widely spread marketing campaign, highlighting the second charge market to all mortgage advisors.

And here is how we do it....By definition going viral uses resources of others (starting with the host - LoanTalk). Well, that’s exactly what I am proposing to do. I would love nothing more than for you all to retweet, share, like (you know the score) this blog, but it has to be from Loan Talk. Basically, join me by sharing this e-book promoting the benefits for second charge loans to the Mortgage Intermediary industry.

Remember, we are promoting the benefits of a second charge loan not the benefits of Precise Mortgages (although our products are pretty hot!). Therefore, the sum of the whole - you, me and everyone, is greater than the sum of its parts – you!

Hopefully you will have read and shared my other blogs. If not please read and share, they will start to make sense – I promise you!

So education, education, education. Prepare the theme tune, we are going viral. That’s what you need. If you wanna be the best, and you wanna beat the rest. Oo-ooh! Education is what you need. (Trumpet Solo) Education’s what you need, if you wanna be a #MORTGAGEBROKER!

Ladies and Gentlemen, I present to you possibly, the greatest opportunity the mortgage broker market has ever seen – It’s called second charge loans, a facility to consider, not ignore.

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Thinking Cleary: Whoever wins, new homes are crucial

25 May 2015

As I am writing this column I am eagerly awaiting the results of the General Election. Which way it goes could have dire consequences for the nation and I have my fingers crossed that the electorate once it gets to the privacy of the voting booth will give one party a majority.

Both the main parties have housing high up on their agenda and specifically the building of new homes. The Labour Party have stated in their manifesto that they will get 200,000 homes built per year by 2020 and the Conservatives have stated that they will build 400,000 new houses on Brownfield sites and 200,000 starter homes. But are these just sound bites designed to woo votes or is it something that they can deliver.

Looking back to history for some insight, it would indicate the targets being set are achievable but I had to look back a long way! Post war Britain enjoyed a couple of decades where 300,000 new homes were being built every year and on a few occasions up to almost 350,000. No doubt the destruction caused by bombing raids had a profound effect on post war politicians but from the late 1960s the number of new build started to decline and this trend has continued to this day where we are now building less than 150,000 new homes per year.

Both main parties have presided over a declining housing stock; back in 2000 the Barker Review of Housing Supply concluded that we needed to build 250,000 new homes per year in order to prevent spiralling house prices. The best we have done since then was in 2006/7 when 219,000 new homes were built but unfortunately the financial crisis put paid to that and we hit a post war low of 135,000 mildly recovering last year to 140,000. So based on the stats Politicians, at least of late have not got a great track record in delivering on the new build promise and the consequences are now at crisis level.

If I were in charge for a day I would take Housing Policy out of the political machine and hand the powers to an Independent Bank of England. Housing strategy needs to be looked at in 50 year cycles and with governments only having five year cycles this leads them to making tactical decisions and missing the glaringly obvious bigger picture.

Surely, the time for housing being used as a political football should come to an end. If the Bank of England were in charge of housing policy and had a 50 year plan I doubt very much whether they would allowed the country to run out a bricks, especially as bricks are pretty important in the house building process. Virtually every poll running is predicting that no single party will win an outright majority so it is possible that one or more of the smaller parties will become King Maker.

The Liberal Democrats pledge is based on building 300,000 new houses per year, the creation of at least 10 new Garden Cities and a Rent to Own scheme. UKIP wants to build a million homes on Brownfield sites by 2025 and the SNP the least ambitious wants to see investment to create 100,000 affordable homes built. If the result is a severely hung parliament then my guess is that we will end up in a political quagmire. Despite my views I doubt whether the necessary powers will be handed to the Bank of England but I do believe that the house building crisis will force which every party or parties get into power to get serious and tackle the issue. Rather like the shortage of bricks there is a shortage of lenders active in the new build space and that is one of the reasons why I am putting new build growth high up on our agenda. At the moment there are no specialist lenders active in the new build space so unless you are a grade A, employed customer with an exemplary credit score getting a mortgage for a new build home is just as difficult as getting a mortgage for a second hand property. It doesn’t make any sense to me that just because a person is self employed or was late paying a mobile phone bill a year ago that they should be excluded from buying a new home, there is a need for lenders and intermediaries to play a role if the Country is to finally crack the proverbial new homes nut.

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Viral Experiment - let's do it together!

13 May 2015

Simon Carr, Sales Development Director

Hey hang on a minute; it’s not that kind of experiment! Let me explain as I rub my hands together, characteristically in the style of a mad professor. What I’m looking to do is call upon your internet prowess – well let’s face it you’ve found your way here, so by the powers of deduction you have at least got internet access... in fact, I’d wager you have email and the chances are that you have one of those crazy social media account things – LinkedIn or Twitter?

Here’s the thing. I want to be totally clear. I want us to go viral.... together.

Second Charge Loan Viral Definition

adjective

1. of, relating to, or caused by a virus. 2. pertaining to or involving the spreading of information and opinions about second charge loans from person to person, especially on the Internet or in emails: 3. go viral, to spread rapidly via the Internet, email, or other media

Why do I want to go viral?

Let’s face it; the whole is greater than the sum of its parts!

I’ll be honest with you: I don’t care who does it, be it other lenders, our Preferred Master Brokers or Mortgages Brokers (play the theme tune) and so on. This is definitely a case of the more the merrier and, after all, we are all driving the same objective, to raise the profile of second charge loans across the mortgage intermediary industry.

So here’s what you get for spreading the word. You get an e-book, let’s call it Education (see what I’ve done there - read my previous blogs), not to mention possibly one of the greatest opportunities ever presented to you. It’s not a cheap scam – there are no hidden costs, definitely no upfront fees; it’s free – think of it as a safety blanket.

In my previous blogs, I discussed education, education, education with a small pinch of dedication – know your market, become a grandmaster of your specialist noble art!

**Shocking spoiler alert** I really don’t care if Prestige Finance, Paragon, Nemo Personal Finance, Blemain Finance, Optimum Credit, Masthaven or Central Trust get deals referred to them off the back of this blog and its viral intent! What I do hope is that Master Brokers, Lenders, Mortgage Networks, Surveyors and Mortgages Brokers (play the theme tune) unite to create a truly widely spread marketing campaign, highlighting the second charge market to all mortgage advisors.

And here is how we do it....By definition going viral uses resources of others (starting with the host - LoanTalk). Well, that’s exactly what I am proposing to do. I would love nothing more than for you all to retweet, share, like (you know the score) this blog, but it has to be from Loan Talk. Basically, join me by sharing this e-book promoting the benefits for second charge loans to the Mortgage Intermediary industry.

Remember, we are promoting the benefits of a second charge loan not the benefits of a Precise Mortgages (although our products are pretty hot!). Therefore, the sum of the whole - you, me and everyone, is greater than the sum of its parts – you!

Hopefully you will have read and shared my other blogs. If not please read and share, they will start to make sense – I promise you!

So education, education, education. Prepare the theme tune, we are going viral. That’s what you need. If you wanna be the best, and you wanna beat the rest. Oo-ooh! Education is what you need. (Trumpet Solo) Education’s what you need, if you wanna be a #MORTGAGEBROKER!

Ladies and Gentlemen, I present to you possibly, the greatest opportunity the mortgage broker market has ever seen – It’s called second charge loans, a facility to consider not ignore.

To view the e-book click here.

Read more

Fitch upgrades Precise Mortgages Servicer Ratings

27 April 2015

Charter Court Financial Services Limited (CCFS), which operates under the brand names of Precise Mortgages and Exact Mortgage Experts, has received several upgrades from Fitch of its Primary and Special Servicing ratings as follows:

  • UK Primary Servicer Rating upgraded to ‘RPS2-‘ from ‘RPS3+’
  • UK Special Servicer Rating upgraded to ‘RSS2’ from ‘RSS2-’
  • The improved financial condition of CCFS has helped to drive the ratings upgrades. CCFS was awarded a banking licence on 6th January 2015 and in doing so the business met the Basel III liquidity ratio requirements as well as undergoing an intensive review by the Prudential Regulation Authority.

    The ratings reflect the high level of industry experience amongst the senior management team. Stability of this group is demonstrated by the fact there have been no departures from the leadership team since Fitch’s first review of the company in 2012.

    Alan Cleary, Managing Director of Precise Mortgages commented: “We continue to develop our specialist lending proposition for our intermediary partners and this positive news confirms that our strategy is being successful.”

    For further information, please download the reports from Fitch Ratings’ websites.

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    For intermediary use only
    BBR 0.25% / 3 month LIBOR 0.38%