Precise revamps buy to let mortgage range

By Bridging Loan Directory 19th March 2024

Precise, part of OSB Group, has made a number of changes across its buy to let product ranges.

Highlights include:

Current Tier 1 80% LTV buy to let rates reduced by 50bps
New Tier 2 and Tier 3 buy to let ranges for adverse cases

The lender has re-introduced Tier 2 and Tier 3 buy to let products, starting from 5.19%, designed for buy to let customers who have had challenges with their credit previously.

Adrian Moloney, Group Intermediary Director, OSB Group said:

“These buy to let changes reflect the challenges that UK Finance highlighted in their Q4 results which showed that a percentage of landlords as well as homeowners were struggling with their finances.

As well as reducing rates, we’ve widened our acceptable adverse criteria on buy to let properties with Tier 2 and Tier 3 products which firmly establish Precise’s position as a specialist adverse lender.”