Precise bolsters residential range with rate reductions and new LTV bands

Specialist lender, Precise, has bolstered its residential mortgage range with a number of rate reductions, added LTV bands and expanded fee options.

This follows a recent announcement of an increase to residential income multiples by up to 6x for eligible customers, including those with adverse credit, across all borrower types including employed, self-employed, single and joint applicants, first-time and subsequent buyers, and those looking to remortgage.

The latest changes see rate reductions of up to 0.46% across the range, with five-year fixed rates now starting from 4.72% and two-year fixed rates from 4.73%.

In addition, Precise has added new 55%, 65% and 80% LTV bands alongside 1%, £1,495 and £0 fee options.

On selected products, the lender will offer no fee with a refund of valuation and £300 cashback.

Adrian Moloney (pictured), intermediary sales director at OSB Group, said: “We are delighted to further enhance our product offering to brokers with residential customers, helping more to get their foot on the property ladder, as well as supporting those upsizing and downsizing.  

Precise remains committed to offering a range of options to serve buyers with potential affordability challenges such as deposit constraints, affordability and imperfect credit histories. Within this bolstered range, we’ve included a number of rate reductions, including our Tier 2 adverse option which has been reduced by up to 0.46%.”