Complex Buy To Let
Precise brings back limited-edition deals and cuts rates
Precise, part of OSB Group, has relaunched its limited-edition residential range and reduced rates by as much as 1.05%.
Precise brought back the limited-edition range following feedback from brokers, which includes options with a 1% fee to offer more choice to borrowers, it said.
The limited-edition residential products include two- and five-year fixes across all adverse criteria tiers and up to 75% loan to value (LTV). Rates begin from 5.19%, the minimum loan amount is £125,000 and there is a 1% fee.
Additionally, Precise has reduced buy-to-let (BTL) mortgage rates by 0.25%.
Across its bridging range, the lender has also lowered rates across standard and Tier 1 light refurbishment products at 70% and 75% LTV by 0.05% per month. Rates across Tier 2 heavy refurbishment deals have been reduced by 0.05% per month as well.
As for Precise’s refurbishment BTL deals, rates have been cut by up to 1.05% to align its Tier 1 offering with standard refurbishment products in order to simplify its range.
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Rates across Energy Performance Certificate (EPC) C+ refurbishment products have been cut by 0.2%.
Pricing now starts at 5.24% per annum.
Adrian Moloney (pictured), group intermediary director at OSB Group, said: “We are constantly reviewing our ranges and rates to ensure we are supporting our brokers and their customers with differing financial needs.
“We have reintroduced our popular limited-edition residential range, which offers our lowest rates and includes options for those with impaired credit, which helps customers who may struggle to secure a high street mortgage.
“We are delighted to also offer reduced rates to our buy-to-let and refurbishment products, which can be used for single dwellings, houses in multiple occupation [HMOs] and multi-unit freehold blocks [MUFBs].”
This month, Precise announced the launch of a mobile app for specialist mortgage brokers, to allow them to track cases and look up product information. The lender claimed this was the first of its kind in the market.