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BTL roundup: Precise launches limited edition fixes as Vernon adds specialist range

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  • 15/06/2018
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BTL roundup: Precise launches limited edition fixes as Vernon adds specialist range
Precise Mortgages has launched a five-year fixed buy-to-let range with reduced rates and product fees, and Vernon BS has launched a specialist range for investors.

 

Precise’s limited-edition products are available at 3.49% with a 1.5% product fee and 3.59% with a 1% product fee on LTVs of up to 75%.

The products are available to individual landlords applying or through limited companies and on portfolios comprising houses in multiple occupation (HMO).

Precise said the range is ideal for low yield and high value properties above £300,000 helping landlords get the loan size they want with the assessment rate based on the pay rate.

Research for the specialist lender shows the highest yields across all types of property are currently available on HMO at 7.1% but that yields vary across the country.

Landlords in the North West achieved an average 6.7% compared with 4.8% in Central London where property values tend to be higher.

Alan Cleary, managing director of Precise Mortgages, said: “There is increasing demand for products targeted to address particular issues faced by brokers and landlords which is a major part of our role as a specialist lender as the new range demonstrates.”

Meanwhile, Vernon Intermediaries has launched a range of buy-to-let mortgages for landlords, limited companies, portfolio landlords, those with holiday lets and HMOs, as well as consumer buy-to-let deals.

The mortgages are offered up to 70% LTV and include a three-year fixed rate holiday let mortgage at 3.69%, with an £899 fee and a three-year limited company mortgage at 3.69% with a £1,899 fee.

Tom Gurrie, intermediary sales manager at Vernon, said: “We’re an experienced buy-to-let lender and these new competitive products will provide more landlords with specialist borrowing solutions.”

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