Precise Mortgages has temporarily withdrawn its second charge mortgage products as lenders continue to hit the pause button in the face of high business volumes.
The second charge market has seen increased demand in recent months as homeowners with long-term low rate fixes look for other options to secure funds against their homes.
However, Precise has now taken the decision to withdraw its products and said there are no immediate plans to launch replacement products.
A statement on its website reads: “We’ve temporarily withdrawn our second charge lending products.
“This will help us to effectively manage increased business volumes and continue to reduce turnaround times. We have no immediate plans to launch replacement products.”
Fully packaged cases must be submitted to the lender no later than Friday 30th September 2022.
