Complex Buy To Let
Precise Mortgages and Lendco lower rates – round-up
Precise Mortgages has cut limited edition and core range residential rates showing its “ability and appetite to support brokers and their customers”.
According to a broker note, new limited edition products from Precise Mortgages begin from 5.44 per cent and go up to 65 per cent loan to value (LTV).
In its core range, pricing starts from 5.54 per and goes up to 85 per cent LTV.
The refreshed residential range also included 80 per cent LTV deals.
Adrian Moloney, group intermediary director, OSB Group, said: “As we start 2024, we are delighted to be lowering rates and widening our product offering for residential mortgages.
“Although there hasn’t been a more challenging time for house purchasing, the recent increase in housing activity, coupled with mortgage rates easing, has led housing experts to agree that it could be a buyer’s market. These rate reductions demonstrate our ability and appetite to support brokers and their customers as we step into a new year.
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“In addition to these updates, Precise Mortgages also offers products with a range of options such as: £0 product fee, refund on valuation (worth a maximum of £630) and £300 cashback.”
In December, Mortgage Solutions reported that Precise Mortgages had added to its product transfer range to widen options for residential and buy-to-let borrowers.
Lendco cuts rates by up to 0.74 per cent
Specialist buy-to-let and bridging lender Lendco has lowered its two and five-year fixed rates in its buy-to-let mortgage range by up to 0.74 per cent.
The range features lower arrangement fee options and an expansion of its Verde product range rewarding landlords who have properties with an EPC rating from A to C.
Two-year fixed rates begin from 4.09 per cent and five-year fixed rates start from 5.04 per cent.
Alex King, executive director at Lendco, said: “We are delighted to welcome 2024 with a reduction in fixed-rate pricing for our brokers and their borrowers. The outlook for 2024 seems to be more positive and we look forward to what we hope to be more stable conditions.
“Our best pricing is reserved for those borrowers who operate the most energy-efficient homes for their tenants and our refurbishment-to-let options are proving very popular with those borrowers looking to do just that.”