Precise cuts BTL rates following Brexit vote

Precise Mortgages has launched a range of new residential and buy-to-let products in response to the EU Referendum vote.

Related topics:  Finance
Rozi Jones
30th June 2016
to let 11
"The products offer customers the chance to lock into historically low medium and long term fixed products."

Managing Director Alan Cleary said the changes were as a result of "financial turmoil" following the Referendum, which resulted in "an expectation that the Bank of England will reduce the base rate in the coming months. This has translated to a significant drop in the cost of 5 and 10 year money".

Five year fixed buy-to-let rates have been cut by 0.14%, starting from 3.85%, and new 10-year fixed rates have been introduced from 3.99%.

The new residential range is available up to 85% LTV and includes 10 year fixed rates from 3.79% and six year fixes from 3.59%.

In a statement, Precise said that the products offer customers "the chance to lock into historically low medium and long term fixed products".

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