Precise launches new limited edition products with reduced rates
Precise, part of the OSB Group, has launched new limited edition products which include rate reductions to help brokers support customers with greater choice and flexibility around affordability challenges.
Residential rates now start from 5.79% with no product fee, helping customers looking to purchase ahead of the stamp duty changes coming into effect in April 2025.
Highlights of the residential changes include:
- rates from 5.79% with no product fee
- reductions in revert rates by up to 200 bps
- support for less-than-perfect credit profiles up to 85% LTV
The lender has also made changes across their buy-to-let product range, including the introduction of a sub 4% rate.
BTL highlights include:
· Tiers 1-3 with rates from 3.99% with a 5% fee
· HMO Tier 1 rates from 4.14% with a 5% fee
· no restriction on loan size
· 2 year & 5 year fixed, 75% LTV products
Adrian Moloney, group intermediary director, OSB Group said “We’re committed to helping our broker partners support their clients through market changes. The end of stamp duty relief for first-time buyers planned for next year could create a complex environment for those starting on the property ladder. By introducing lower rates and products with no fees, we’re confident we’ll help more residential customers with their borrowing needs.
And with the buy to let market also continuing to face challenges, we’re introducing a sub 4% rate as well as reduced rates across many tiers to enable brokers to support their landlord customers.
