The firm said the extended loan term could allow borrowers to access lower monthly payments, up their borrowing capacity and experience more flexibility.
The 40-year term option is available alongside low affordability stress rates, with loan to values (LTVs) up to 97% with fees added and 95% LTV without fees also available.
Eligible customers can access up to six times income, with maximum loan sizes of £5m.
According to Mortgage Brain, there are around 64 lenders that offer maximum terms of 40 years, with one lender going up to 41 years, another offering 45 years and one firm offering 50-year terms.
Pricing starts from 4.48% and includes deep adverse support.
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Adrian Moloney (pictured), group lending distribution director at OSB Group, said: “Specialist lending is about providing support and flexibility, as no one has a standard set of circumstances. With our new 40-year term now live, we’ve strengthened our proposition to enable brokers to help more customers sensibly increase their borrowing capacity so that they are able to successfully get on the housing ladder.”
Precise recently boosted its new-build and adverse credit maximum LTV and added LTV bands and fee options.
