Precise Mortgages has made a number of appointments ahead of its launch into the secured loans market.

Simon Carr joined Precise Mortgages in January 2013 as an independent consultant to strategically advise the business on its entry into the secured loans market; he has now been appointed to the permanent role of director of secured loans.

Carr has recruited two national sales managers to manage key partner relationships. They will be responsible for day to day working relationships with the lender’s panel of master brokers as well as being involved with mortgage networks, clubs and distributors.

Richard Keen joined in September 2013 having previously been head of intermediary development at The Loans Engine and the second, as yet unnamed national sales manager, will join early November 2013.

A team of five underwriters is in place and led by underwriting manager Jennifer Dunn who has accumulated 17 years experience in the secured loans market, most recently with Ocean Money. Further appointments to the underwriting and processing teams are in the pipeline.

Alan Cleary, managing director of Precise Mortgages, said: “Our residential and buy-to-let secured loans will be competitively priced and will benefit the growing numbers of borrowers who want to raise money without refinancing their existing mortgage.

“We have carefully selected a number of master brokers who will exclusively distribute our products to the market.”

Jonathan Bray, CEO of The Loans Engine, added: “2013 has been a strong year for secured loans and I am thrilled to see another lender entering the market. The entry of Precise Mortgages, who are highly respected for their innovation and commitment to supporting the mortgage intermediary market, will only lead to significant enhancements in the secured loans sector.

“The Loans Engine looks forward to working closely with Precise Mortgages over the coming months to the benefit of the intermediary sector.”