It slashes rates and expands fee options to offer more flexibility for brokers
Specialist lender Precise, part of OSB Group, has updated its residential mortgage offerings, reducing rates across its 75% and 85% loan-to-value (LTV) products.
The lender has also introduced new fee options and lowered selected reversion rates by as much as 2.25%.
The changes aim to provide more flexibility for brokers and their residential clients, particularly those seeking lower monthly payments or looking to buy ahead of the UK’s upcoming stamp duty changes in April 2025.
Rates now start at 5.64% for five-year fixed products. The lender has also expanded its £0 fee option and introduced a £1,495 fee option. The updated range is available on 75% and up to 85% LTV mortgages.
ANOTHER ONE. 🎤
— PRECISE. (@Precise_Mtgs) January 30, 2025
Residential rates reduced by 0.60% on 75% and 85% LTV products. Rates now from 5.64% on 5-year fixed.
See more: https://t.co/Sy8WYg40wf
Intermediaries only. pic.twitter.com/iyvXmKJsxT
“With house price and interest rate challenges continuing into 2025, as well as stamp duty changes on the horizon, residential customers are keen to get ahead in securing their property purchases to avoid higher costs as we know this is an additional barrier,” said Adrian Moloney (pictured), group intermediary director at OSB Group.
“In response to these challenges, not only have we reduced our residential rates, but we’ve included a wider range of fee options to cater for those who can pay a little more upfront and secure a lower rate as well as those who welcome the chance to lower their upfront costs.”
The move follows Precise’s launch of a residential mortgage range aimed at clients with more complex financial backgrounds, including those using Right to Buy schemes. The lender has also recently made significant rate cuts across its bridging loan products and introduced a developer exit option, broadening short-term financing choices for brokers.
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