Precise launches 95% LTV range and cuts rates by up to 0.70%

Precise has announced a series of enhancements to its residential mortgage proposition which includes increasing the maximum LTV to 95%, increasing maximum loan sizes and reducing stress rates.

The expanded range also incorporates cheaper pricing solutions which have been specifically developed to support first-time buyers, self-employed, remortgage and debt consolidation customers.

Rates across the lender's residential range have reduced by up to 0.70% and now start from 4.89%.

The maximum loan size increased from £2m to £5m and stress rate on two and three-year products have reduced to 1.25%.

In addition, debt consolidation is now available up to 90% LTV.

Adrian Moloney, intermediary sales director at OSB Group, said: “The stamp duty deadline may be upon us but it’s still a great time to buy. According to the latest Rightmove research, new buyers are now seeing the highest range of property choice at this time of year since 2015 and mortgage rates are down considerably from the peak of 6.11% in July 2023. 

"I’m delighted to unveil these new residential products from Precise with lower rates, increased LTVs and max loan sizes as well as reduced stress rates. These changes aim to help make residential mortgaging more affordable across a wide range of buyers including self-employed and those with a less than perfect credit history.”