Precise Mortgages to target ‘locked out’ borrowers

Precise Mortgages has launched a range of mortgages that it claims will “help borrowers who have been locked out” of the market. Targeting people such as the self-employed and those with blemishes on their credit records, it will use data-driven models based on affordability.

The first set of loans is being distributed through independent financial advisers. Precise will use data from credit reference agencies and public domain information about county court judgements to set its lending criteria.