It introduces lower rates and wider adverse options
Precise, part of specialist lender OSB Group, has announced adjustments to its buy-to-let product offerings, including rate reductions and the reintroduction of specific products aimed at supporting customers with adverse credit histories.
The specialist adverse lender has lowered its Tier 1 80% loan-to-value (LTV) buy-to-let rates by 0.5 percentage points.
In addition, the recently rebranded Precise has launched new Tier 2 and Tier 3 buy-to-let ranges designed to accommodate landlords who have faced credit challenges in the past. These products are available starting from a 5.19% interest rate.
“These buy-to-let changes reflect the challenges that UK Finance highlighted in their Q4 results, which showed that a percentage of landlords as well as homeowners were struggling with their finances,” said Adrian Moloney (pictured), group intermediary director at OSB Group.
“As well as reducing rates, we’ve widened our acceptable adverse criteria on buy-to-let properties with Tier 2 and Tier 3 products which firmly establish Precise’s position as a specialist adverse lender.”
Read our guide to Precise for intermediaries here.
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