Precise, part of OSB Group, has announced that it has refreshed its residential product range and cut rates across the 75% and 85% LTVs bands, introduced new fee options and dropped selected reversion rates by up to 2.25%.
The changes have been made to increase choice and offer further flexibility around affordability challenges for brokers with residential customers, especially those who are looking for lower monthly payments and looking to purchase ahead of the stamp duty changes coming into effect in April 2025.
Following the changes, rates will now start from 5.64% on 5-year fixes, the £0 fee option has been expanded and a £1,495 fee introduced. The changes are available on 75% and up to 85% LTV products.
“With house price and interest rate challenges continuing into 2025 as well as stamp duty changes on the horizon, residential customers are keen to get ahead in securing their property purchases to avoid higher costs as we know this is an additional barrier,” said Adrian Moloney, Group Intermediary Director, OSB Group, adding "In response to these challenges, not only have we reduced our residential rates but we’ve included a wider range of fee options to cater for those who can pay a little more upfront and secure a lower rate as well as those who welcome the chance to lower their upfront costs.”
