Precise boosts BTL range with lower rates

Precise Mortgages, which is part of the OSB Group, has revamped its buy to let product range, offering landlords greater flexibility and access to larger loans.

The lender’s key changes include:

• Reduced rates starting from 4.49%
• Reintroduction of higher loan-to-value (LTV) options for qualified borrowers
• Introduction of new fee products to increase borrowing potential.

There are also 7% and 5% fee options for five-year fixed, and a 5% fee option for two-year fixed products.

Precise says the changes aim to make Precise Mortgages a more attractive option for landlords in the current market.

Options support brokers and their clients

Group intermediary director, Adrian Moloney, said: “These fee-based options support brokers and their clients who are looking for the reassurance of a fixed monthly payment and increased borrowing capacity.

“As well as reducing rates, we’ve widened our acceptable criteria on buy to let properties with all three tier products which strengthens Precise’s offering within the buy to let market.”

James Chisnall, a director at City Finance Brokers, said: “We have many clients that this product range will be ideal for, as they will be able to maximise their opportunities with access to greater loan amounts via fee-based products.

“Clearly there are some clients who have credit challenges, however with higher ICR rates impacting on maximum loan amounts, lenders have had to be innovative in order to help them achieve their goals.”

For assistance with any type of buy to let (BTL), property or commercial finance please complete the contact form below: