Precise enhances buy-to-let criteria with new products and lower rates
The lender has launched new Tier 1 products, expanded its Tier 2 and 3 ranges, and introduced new 5% and 7% fee options.
"As well as reducing rates, we’ve widened our acceptable criteria on buy-to-let properties with all three tier products"
Precise has made a number of changes across its buy-to-let product range, including reduced rates starting from 4.49% and new fee products.
Enhancements include the reintroduction of Tier 1 products at 70% and 75% LTV, with reduced paperwork for eligible borrowers and options for HMOs, MUFBs and limited companies.
Precise has also expanded its Tier 2 and 3 ranges up to 80% LTV with two and five-year fixed options, expanding the allowable adverse at higher LTVs.
It has also introduced 7% and 5% fee options for five-year fixes and a 5% fee option for two-year fixes, improving borrowing capacity for borrowers.
Adrian Moloney, intermediary director at OSB Group, said: “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 buy-to-let properties with all three tier products which strengthens Precise’s offering within the buy-to-let market.”
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