Precise adverse credit mortgage rates are cut to new low levels.

Precise adverse credit mortgage rates have been improved with the recent introduction of new 3 and 5 year fixed rates and a price reduction its tracker deals.

Precise 3 year fixed mortgage rates for near-prime business are now offered at 5.64 per cent for 70 per cent LTV and 6.14 per cent for 80 per cent LTV.

Precise 5 year fixed rate options are available offered at 5.89 per cent for 70 per cent LTV and 6.39 per cent for 80 per cent LTV. Deals are open to applicants with a maximum of one default and one CCJ during the last 24 months.

For those who have had two defaults during the last 24 months, 3 year fixed mortgage rates are available at 6.39 per cent for 70 per cent LTV and 5 year fixed rates are available at 6.64 per cent for 70 per cent LTV.

For 80 per cent LTV a 3 year fixed rate is available at 6.89 per cent and a 5 year deal is available for 80 per cent LTV at 7.14 per cent.

Tracker mortgage rates have also been reduced from 5.28 per cent to 4.94 per cent.

It has been confirmed by the lender that valuation refunds and cash-back mortgage products remain available on deals offered at 80 per cent LTV.

Alan Cleary who is the managing director of Precise Mortgages has commented saying that the newly introduced product range is the most comprehensive to date.

He added that a reduction in the Libor has enabled Precise to reduce rates on its most popular mortgage products and add some long term fixes, which should offer a competitive deal for those looking for increased security. It is believed that the range could help brokers such as Deal Direct help more borrowers to purchase homes.

For the very latest adverse credit mortgage rates and lenders mortgage criteria contact Deal Direct who can search the entire UK mortgage market on your behalf. We will find a product ideally suited to your personal financial circumstances.