Precise Mortgages has announced that it has made several changes to its buy-to-let range including rate cuts and reductions to fees across the full suite of personal ownership, HMO and limited company products.
According to the lender, it has also introduced products with refund of valuation and £500 cashback to help support the remortgage market.
Top slicing is available on all products, which enables customers to use surplus portfolio or earned disposable income to prove they can meet any financial stresses on a new loan application, rather than through the rental income of the property alone.
Key highlights of the range include:
Core & Ltd Company
· 75% LTV 2-yr fixed: 2.79% with 0.5% fee - a 50bps reduction in fee
· 75% LTV 5-yr fixed: 3.09% with 1.5% fee - a 30bps reduction in rate
· 80% LTV 2-yr fixed: 3.69% with 1.5% fee - a 10bps reduction in rate and 50bps in fee
· Products with fixed £3,995 fee for loan sizes between £300k and £750k – reductions in rate of 20bps
HMO & Ltd Company
· HMO 75% LTV 5-yr fixed: 3.34% with 1.5% fee – a 35bps reduction in rate
· Products with fixed £3,995 fee for loan sizes between £300k and £750k – reductions in rate of 25bps
The lender also allows landlords to have up to 20 buy-to-let mortgages to a combined value of £10m (no limit with other lenders).
Adrian Moloney, Group Sales Director for Precise Mortgages, said: “As the leading specialist lender in the market, we know that these rate reductions across our buy to let range can only mean great news for our broker partners.”
“We’re offering competitive pricing, reduced rates and affordability options, all backed up by our award-winning sales teams who have the knowledge and expertise to help get cases over the line. It’s an absolutely winning combination especially as brokers know that they can rely on us for our straightforward criteria and upfront decision making.”