Precise has cut buy-to-let rates by up to 40 basis points and launched a number of new Help to Buy remortgage products.

The lender, which is part of OneSavings Bank, says its buy-to-let deals are available up to 75 per cent loan-to-value for both purchase and remortgage.

New rates following the cuts include:

• Two-year fixed rate standard buy-to-let for individual landlords and limited companies, now 3.14 per cent.
• Two-year fixed rate for houses in multiple occupation owned by individual landlords or limited companies, now 3.44 per cent.
• Five-year fixed rate standard buy-to-let for individual landlords and limited companies, now 3.49 per cent.
• Five-year fixed rate for houses in multiple occupation owned by individual landlords or limited companies, now 3.74 per cent.

Precise Mortgages has also launched a new range of Help to Buy remortgage products. 

The range is available up to 75 per cent LTV to those with less than perfect credit profiles with features including no product fee, a refund of valuation fee and rates as follows:

• Two-year fixed rate at 4.24 per cent.
• Five-year fixed rate at 4.34 per cent.

OneSavings Bank group sales director Adrian Moloney says: “It’s vital that we support the market in these challenging times, and we believe these rate reductions across our range of buy-to-let mortgages will help brokers in placing more of their customers’ cases.

“As one of the first specialist lenders to enter the Help to Buy market, we remain as committed to the scheme as we always have been, and our new remortgage products will help more first-time buyers meet their aspirations of becoming established homeowners.”

3mc director Doug Hall says: “It’s fantastic to see this new range from Precise Mortgages, which is a real show of intent to help us support the broker community and customers alike, combined with their consistent and speedy servicing of cases throughout this year, which is excellent in the current market.”