The rate cuts will support brokers with first-time buyer, homemover and remortgage customers, Precise said.
Highlights of the range include two-year fixed rates starting from 4.84%, three-year fixed rates beginning from 4.97% and five-year fixed rates priced from 4.77%.
The lender said the products come with “greater flexibility” through different fee options, including no fee, £1,495 fee and 1% of the loan amount.
Precise’s two-year fixed rate Tier 2 product has been cut across all loan-to-value (LTV) tiers, including 75%, 85% and 95%.
These products are aimed at those with adverse credit like county court judgments (CCJs), defaults or mortgage arrears.
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Adrian Moloney (pictured), intermediary sales director at OSB Group, said: “These residential rate reductions show our ongoing commitment to improving mortgage affordability, especially for borrowers looking to get their first step on the property ladder.
“We are continuing to offer 1.25x stress rates on these two- and three-year fixed rate options, as well as a refund of valuation fees and £300 cashback to help improve affordability.”
Earlier this year, Precise Mortgages updated its affordability calculation process for its improved residential range, boosting borrowing capacity. The average increase was estimated at around 9% but is dependent on customer circumstances.
This publication also reported that OSB Group, the parent company of Precise, would be launching a new buy-to-let (BTL) brand, Rely, and refining its lending streams so Precise focuses on the residential market.
