Precise reduces two and three-year residential rates

Precise has made reductions of up to 16bps on two and three-year fixed rate residential products for first-time buyers, home movers and remortgage customers.

Precise’s residential range provides borrowers with greater flexibility through different fee options, including £0 fee, £1,495 fee, and 1% of the loan amount.

Following the latest reductions, two-year fixed rates now start from 4.84%, three-year rates from 4.97%, and five-year fixes from 4.77%.

Precise's two-year fixed Tier 2 product has reduced across all LTVs including 75%, 85% and 95%. 

Borrowers with adverse credit such as CCJs, defaults or mortgage arrears could also benefit from the latest rate cuts.

Adrian Moloney, intermediary sales director at OSB Group, said: “These residential rate reductions show our ongoing commitment to improving mortgage affordability, especially for borrowers looking to get their first step on the property ladder.

We are continuing to offer 1.25x stress rates on these two and three-year fixed rate options as well as a refund of valuation fees and £300 cashback to help improve affordability.”