New-build options are now available up to 90% LTV, with pricing starting from 5.66%.
Customers with Adverse Tier 4 credit, which are those with past defaults or missed payments, can access up to 95% LTV, subject to credit score.
The change comes off the back of several changes, including increasing its residential LTV to 95%, upping its loan-to-income (LTI) ratio to six times and cutting stress rates.
Adrian Moloney (pictured), group intermediary director at OSB Group, said: “Our latest residential improvements include options to make new-build purchases more accessible and affordable as well as supporting clients who may have had credit blips. We understand that life is busy, and in our view, a missed direct debit shouldn’t block the route to homeownership.
“We’ve also added a new range of one-year fixed products, reduced rates for more customers with heavier adverse, and offer fee options of £0, 1%, or £995. It means that the wide-ranging residential product range at Precise offers practical solutions for brokers working hard to secure homeownership for their clients.”
The changing role of the Bank of Mum and Dad
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Craig Hall, director of strategic partnerships at LSL Financial Services, added: “Over the last 18 months, we have seen several improvements with new-build high LTVs. However, specialist lender support has been lacking. It is therefore welcome news to see Precise step into this space.
“The increased LTV and affordability improvements illustrate Precise’s commitment to supporting the specialist residential sector and supporting homeownership aspirations.”
