Precise Mortgages has launched a new product range, with which it hopes to break into the prime market.

The intermediary-only lender has introduced rates starting at 2.89% fixed for two years with a £995 arrangement fee.

The products are exclusive to DAs and ARs of Legal and General Mortgage Club and Sesame Bankhall Group.

Some of the remortgage products have no arrangement fee, £500 cash back and a refund of valuation fee.

There are some post code restrictions; brokers should look on the lender’s website for more details.

Martyn Smith, head of mortgage products at Legal & General Network, said the deals would be “music to the ears of brokers”.

He added: “Precise are 100 per cent focused on supporting mortgage intermediaries and I would encourage all brokers to take a good look at these excellent products that sit at the top of the mortgage sourcing systems.”

Robert McCoy, senior product and communications manager at Sesame Bankhall Group, added: “The combination of the low rates, and the remortgage incentives come as a welcome addition to the new prime range from Precise Mortgages.

“For our members to be able to offer such competitive products to borrowers, whether or not they have a perfect credit history, is good news and I’m sure they will be well received.”