Precise Mortgages, a subsidiary of the OSB Group, has revised its 5-year fixed rate terms in its limited edition buy-to-let range to offer more affordable options.
The lender has lowered the starting rates on its 5-year fixed terms to 5.24% and reduced the minimum loan size to £40,000 across all products within this range.
A new 5-year fixed rate product featuring a 7% fee has also been introduced.
Adrian Moloney, group intermediary director at OSB Group, said: “We’re delighted to be able to lower rates across our 5-year fixed rate mortgages within our limited edition buy-to-let range.”
Moloney highlighted the ongoing market challenges and strong rental demand as the driving factors for these changes.
He added: “Landlord affordability is paramount, that’s why we’re able to assess 5-year affordability at pay rate across loans for single dwelling, HMO and multi-unit properties.”
