The two-year fixed rate products are available at 5.54% and 5.84%. The initial fixed rate payable is determined by the level of mortgage arrears the clients may have, however, Precise Mortgages ignore mortgage arrears older than three years.
The products have a minimum loan of £200,000 for both purchasers and remortgagers and include a 1.25% arrangement fee.
Robert McCoy, senior product and communications manager at PMS said: “These offerings allow our members to offer their professional landlords a competitive solution in spite of any recent credit problems they have encountered.”
Alan Cleary (pictured), managing director of Precise Mortgages, added: “These new products should be attractive to landlords who are struggling to get a buy-to-let mortgage from high street lenders. Not only are these exclusives better on price than our core range, they also suit a wider range of needs as the maximum loan has been increased to £500,000.”
