Precise Mortgages has launched a range of 70% loan-to-value products across its residential range, while Kent Reliance has trimmed rates and launched new landlord products.
Both firms are part of listed banking business OSB Group, which also owns InterBay and Charter Savings Bank.
Highlights of the changes at Precise Mortgages, which also offers landlord and bridging loans, include:
- Prime residential five-year fixes at 70% LTV at 5.99%, with a £995 fee
- Almost prime residential two-year fixes at 70% LTV at 6.59%, with a £995 fee
- Near prime residential two-year fixes at 70% LTV at 6.99%, with a £995 fee
The specialist lender adds that Loans Warehouse has become a key partner of the business.
The firms say the move “recognises Loans Warehouse as an industry expert” across regulated and non-regulated loans.
Loans Warehouse head of bridging Vikki Edwards points out that its new status means it “can tap into their [Precise Mortgages] market leading bridging loan products as well as their industry knowledge”.
OSB Group specialist finance account manager Davey Gurm adds that Loans Warehouse “fully deserves this promotion to key partner”.
At Kent Reliance for Intermediaries, its changes for buy-to-let borrowers include:
- 7% fee limited edition product cut by 5 basis points to 5.19%
- New two-year fixes at 75% LTV from 4.89%
- New two-year trackers from 5.49%
The lender’s residential highlights include the reintroduction of its income flexibility range of up to 90% LTV, which targets customers with income multiples.
OSB group intermediary director Adrian Moloney says: “Our popular limited edition 7% product fee five-year fixed-rate loan has been improved, this means our lower pricing can support even more landlords.
“We’ve also reintroduced our income flexibility residential range and expanded it to help our customers who need greater flexibility with income multiples.”
