Precise Mortgages has reduced the rates on its buy-to-let and residential range and introduced new 10-year fixed rate products.
Precise Mortgages has reduced the rates on its buy-to-let and residential rangeand introduced new 10-year fixed rate products.
The reductionsfollow changes to the cost of five and 10-year money in the markets afterthe vote to exit the European Union.
Buy-to -let up to 75% LTV sees5-year fixed rates reduced by 0.14% with rates starting from 3.85% and the introduction of10-year fixed rates from 3.99%.
The residential range up to 85% LTV sees6-year fixed rates reduced by 0.20% starting from 3.59% with10-year fixed rates introduced from 3.79%.
Alan Cleary (pictured), managing director of Precise Mortgages, said: "Post the referendum we saw some financial turmoil, the result of which is an expectation that the Bank of England will reduce the base rate in the coming months. This has translated to a significant drop in the cost of 5 and 10 year money.
"We are passing on some of that saving by launching a range of new products in residential and BTL.
"The products sit alongside Precise'scurrent range of products and offer customers the chance to lock into historically low medium and long-term fixed products."
