Brightstar Financial is offering a 2.89%, two-year fixed rate prime purchase deal from Precise Mortgages.

The mortgage has no arrangement fee.

Brian Leppard, head of specialist mortgages and buy-to-let at Brightstar, believes the deal allows brokers to target prime borrowers on the same or better terms than high street lenders are offering to their direct clients.

He said: “Bringing in this product along with their equally competitive remortgage product, Precise Mortgages should be seen by brokers as a positive beacon to help brokers stimulate business in the prime market, which up to now has seen brokers being excluded by lenders keen to flaunt their intermediary friendly credentials while offering direct deals which brokers could not access.”

Alan Cleary, managing director at Precise Mortgages, said: “Brightstar and Precise Mortgages are working together in promoting these products to mortgage brokers and together we will provide a viable alternative to direct only lenders.”