Included among the changes is the upping of Precise’s maximum LTV to 95%, and fees can be added to the loan.
The lender has increased its maximum loan size from £2m to £5m, and the stress rate for two- and three-year deals has fallen to 1.25%.
Precise said debt consolidation was available up to 90% LTV and rates in its residential range begin from 4.89%, which is a 0.7% cut.
Adrian Moloney (pictured), intermediary sales director at OSB Group, said: “The stamp duty deadline may be upon us, but it’s still a great time to buy. According to the latest Rightmove research, new buyers are now seeing the highest range of property choice at this time of year since 2015 and mortgage rates are down considerably from the peak of 6.11% in July 2023.
“I’m delighted to unveil these new residential products from Precise, with lower rates, increased LTVs and max loan sizes as well as reduced stress rates. These changes aim to help make residential mortgaging more affordable across a wide range of buyers including self-employed and those with a less-than-perfect credit history.”
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Stephen Martin, mortgage services consultant at Connells, said: “With more first-time buyers looking to get their foot on the property ladder, it’s great to see Precise’s expanded residential offering. It means our customers have access to an improved range of financial options and flexibility, which is absolutely vital in this area of the market.
“These products also go a long way in supporting customers with affordability challenges, especially those with less-than-perfect credit. It’s only with the support of a specialist lender like Precise that we can offer our customers more accessible and affordable options.”
Earlier this month, Precise adjusted its affordability calculation process.
