Precise has made several changes across its buy-to-let product range, including reduced rates starting from 4.49% and introducing new fee products.
The moves by the specialist lender, part of OSB Group, are designed to increase the borrowing capacity of landlords, it says.
Highlights of the firm’s changes include:
- Reintroduces Tier 1 products at 70% & 75% loan to value with reduced paperwork for eligible borrowers and options for houses in multiple occupation, multi-unit freehold blocks and limited companies
- Expands Tier 2 and 3 products up to 80% LTV with two- and five-year fixed options, increases the allowable adverse at higher LTVs
- 7% & 5% fee option for five-year fixes, plus 5% fee option for two-year fixes added
OSB Group intermediary director Adrian Moloney says: “These fee-based options support brokers and their clients who are looking for the reassurance of a fixed monthly payment and increased borrowing capacity.
“As well as reducing rates, we’ve widened our acceptable criteria on BTL properties with all three tier products, which strengthens Precise’s offering within the BTL market.”
