"With the buy-to-let market continuing to face challenges, we’re introducing a sub 4% rate as well as reduced rates across many tiers to enable brokers to support their landlord customers"
- Adrian Moloney - OSB Group
Precise has announced that it has launched new limited edition products including rate reductions to help brokers support customers with greater choice and flexibility around affordability challenges.
According to the lender, its residential rates now start from 5.79% with no product fee, aiming to further support customers looking to purchase ahead of the stamp duty changes coming into effect in April 2025.
Following the announced changes, Precise will now offer rates from 5.79% with no product fee, reductions in revert rates by up to 200 bps, and support for less-than-perfect credit profiles up to 85% LTV.
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The lender has also made changes across its buy-to-let product range, including the introduction of a sub-4 % rate.
The lender's buy-to-let range now includes tiers 1-3 with rates from 3.99% with a 5% fee, HMO Tier 1 rates from 4.14% with a 5% fee, no restriction on loan size, and 2 year & 5-year fixed-rate products at 75% LTV.
Adrian Moloney, Group Intermediary Director, OSB Group said: “We’re committed to helping our broker partners support their clients through market changes.
"The end of stamp duty relief for first-time buyers planned for next year could create a complex environment for those starting on the property ladder. By introducing lower rates and products with no fees, we’re confident we’ll help more residential customers with their borrowing needs.
"And with the buy-to-let market also continuing to face challenges, we’re introducing a sub 4% rate as well as reduced rates across many tiers to enable brokers to support their landlord customers."
