Precise, part of OSB Group, has relaunched its limited-edition residential range and reduced rates by as much as 1.05%.
Precise brought back the limited-edition range following feedback from brokers, which includes options with a 1% fee to offer more choice to borrowers, it said.
The limited-edition residential products include two- and five-year fixes across all adverse criteria tiers and up to 75% loan to value (LTV). Rates begin from 5.19%, the minimum loan amount is £125,000 and there is a 1% fee.
Additionally, Precise has reduced buy-to-let (BTL) mortgage rates by 0.25%.
Across its bridging range, the lender has also lowered rates across standard and Tier 1 light refurbishment products at 70% and 75% LTV by 0.05% per month. Rates across Tier 2 heavy refurbishment deals have been reduced by 0.05% per month as well.
As for Precise’s refurbishment BTL deals, rates have been cut by up to 1.05% to align its Tier 1 offering with standard refurbishment products in order to simplify its range.
Rates across Energy Performance Certificate (EPC) C+ refurbishment products have been cut by 0.2%.
Pricing now starts at 5.24% per annum.
Adrian Moloney (pictured), group intermediary director at OSB Group, said: “We are constantly reviewing our ranges and rates to ensure we are supporting our brokers and their customers with differing financial needs.
“We have reintroduced our popular limited-edition residential range, which offers our lowest rates and includes options for those with impaired credit, which helps customers who may struggle to secure a high street mortgage.
“We are delighted to also offer reduced rates to our buy-to-let and refurbishment products, which can be used for single dwellings, houses in multiple occupation [HMOs] and multi-unit freehold blocks [MUFBs].”
This month, Precise announced the launch of a mobile app for specialist mortgage brokers, to allow them to track cases and look up product information. The lender claimed this was the first of its kind in the market.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
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