Specialist residential lender, Precise has improved affordability and raised loan-to-value (LTV) options for new build flats and houses.
The lender now offers new build mortgages up to 90% LTV, with rates from 5.66%, and has extended 95% LTV products to include borrowers with Tier 4 adverse histories, subject to credit score.
Adrian Moloney (pictured), group intermediary director at OSB Group, said: “Our latest residential improvements include options to make new build purchases more accessible and affordable as well as supporting clients who may have had credit blips.
“We understand that life is busy and in our view, a missed direct debit shouldn’t block the route to homeownership.
“We’ve also added a new range of 1-year fixed products, reduced rates for more customers with heavier adverse, and offer fee options of £0, 1%, or £995.”
Moloney added: “It means that the wide ranging residential product range at Precise, offers practical solutions for brokers working hard to secure homeownership for their clients.”
Craig Hall, director of strategic partnerships at LSL Financial Services, said: “Over the last 18 months, we have seen several improvements with new build high LTVs, however specialist lender support has been lacking, it is therefore welcome news to see Precise step into this space.
“The increased LTV and affordability improvements illustrate Precise’s commitment to supporting the specialist residential sector and supporting homeownership aspirations.”
