Precise Mortgages reduces buy-to-let rates and fees

Precise Mortgages has announces a series of changes to its buy-to-let range which include reduced rates and fees across the full suite of personal ownership, HMO and limited company products.

The lender has also introduced products with refund of valuation and £500 cashback to help support the remortgage market.

Top slicing is available on all products, which enables customers to use surplus portfolio or earned disposable income to prove they can meet any financial stresses on a new loan application, rather than through the rental income of the property alone.

Across Precise’s core range, a 75% LTV two-year fix has reduced to 2.79% with a lower 0.5% fee, while a five-year fix has reduced by 30bps to 3.09% with a 1.5% fee. At 80% LTV, a two-year fix is now available at 3.69% with a 1.5% fee.

Additionally, products with a fixed £3,995 fee for loan sizes between £300k and £750k have seen rate reductions of 20bps.

In its HMO range, a 75% LTV five-year fix has reduced by 35bps to 3.34% with a 1.5% fee. Additionally, products with a fixed £3,995 fee have reduced by 25bps.

Adrian Moloney, group sales director for Precise Mortgages, said: “As the leading specialist lender in the market, we know that these rate reductions across our buy-to-let range can only mean great news for our broker partners.

“We’re offering competitive pricing, reduced rates and affordability options, all backed up by our award winning sales teams who have the knowledge and expertise to help get cases over the line. It’s an absolutely winning combination especially as brokers know that they can rely on us for our straight forward criteria and upfront decision making.”

Credits: Rozi Jones