Specialist lender also cuts rates across products
Precise, a specialist lender within the OSB Group, has relaunched its limited edition residential mortgage range and announced rate reductions across its entire product line, with cuts of up to 105 basis points.
Following feedback from brokers, the lender reintroduced the limited edition range, which includes a product with a 1% fee, aimed at providing more options for brokers and their clients.
The residential limited edition range is available in two- and five-year fixed terms, covering all adverse credit tiers up to 75% loan-to-value (LTV). Rates start at 5.19%, with a minimum loan amount of £125,000 and a 1% fee.
For buy-to-let products, rates have been reduced by 0.25% across the board. For bridging loans, rates for standard and Tier 1 light refurbishment loans across 70% and 75% LTV have been cut by 0.05% per month. Tier 2 heavy refurbishment loans have also seen a reduction of 0.05% per month.
BIG NEWS. 📣
— PRECISE. (@Precise_Mtgs) August 29, 2024
📣 Limited edition residential products are BACK.
📣 Rate cuts across buy to let, bridging AND refurbishment buy to let.
Intermediaries only. pic.twitter.com/xJmCGLUagq
In addition, rates for refurbishment buy-to-let products have been reduced by up to 105 basis points, with Tier 1 now aligned with standard refurbishment products for simplification. Loans for properties with an energy performance certificate (EPC) rating of ‘C’ or higher are now 0.20% cheaper, with rates starting at 5.24% per annum.
“We are constantly reviewing our ranges and rates to ensure we are supporting our brokers and their customers with differing financial needs,” said Adrian Moloney (pictured), group intermediary director at OSB Group.
“We have reintroduced our popular limited edition residential range which offers our lowest rates and includes options for those with impaired credit which helps customers who may struggle to secure a high street mortgage.
“We are delighted to also offer reduced rates to our buy-to-let and refurbishment products which can be used for single dwellings, houses in multiple occupation and multi-unit freehold blocks.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
