Precise, part of OSB Group, has made a number of changes across its buy-to-let mortgage range.
Key updates include a 50 basis points reduction in the Tier 1 buy-to-let products at 80% loan-to-value (LTV) and the introduction of new Tier 2 and Tier 3 ranges, specifically catering to applicants facing adverse credit situations. Rates start from 5.19%.
Adrian Moloney, group intermediary director at OSB Group, commented on the update, “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.”
Moloney added: “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.”
