New Lender to Enter UK Residential Mortgage Market
On Tuesday, October 26th, Precise Mortgages, a UK-based mortgage lender that aims to help mortgage market recover, announced it received an approval from the Financial Services Authority (FSA) to enter the residential mortgage market.
The mortgage lender, which earlier specialised in buy to let loans only, announced it plans to introduce several attractive mortgage products onto the British market in the coming months. The first of them is expected to become available as soon as in November.
Spokesman for Precise Mortgages says the company has gone through a difficult process of complying with FSA requirements.
Let us remind that the British government typically warmly welcomes improved competition on the market of home loans by allowing new lenders to challenge such giants as Lloyds, Barclays, HSBC, etc.
If you are unwilling to wait for new deals from Precise Mortgages, you can use online comparison tools to find the best mortgage offer currently available from UK banks.
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