Precise, which launched to market last week, has chosen to have a limited number of distribution channel members for its buy-to-let deals.

Sally Laker, managing director of Mortgage Intelligence Holdings, said: “We are delighted that our AR members meet Presice’s criteria and have been selected to receive access to these competitive buy-to-let products. It is an extremely encouraging sign for the industry that new entrants such as Precise Mortgages are open for business.”

Alan Cleary, managing director of Precise Mortgages, said: “We believe Mortgage Intelligence and Mortgage Next excellent reputation and high quality standards will deliver an outstanding service to brokers and borrowers to aid mortgage market recovery.”