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Precise Mortgages Cuts Price on HMO and Ltd Company Buy to Let Products

03 August 2016

Precise Mortgages, the specialist lender, has made a number of changes to its buy to let product range available to brokers from today. The changes will strengthen Precise Mortgages specialist proposition in the buy to let sector and increase its market share.

Highlights of the range include:

• HMO rates reduced by up to 0.60%pa

• Ltd Company rates reduced by up to 0.55%pa

• New 2 year fixed rate at 2.79%pa with a 1.50% Product Fee available via L&G and SBG

• Core range pricing and fixed rate end dates refreshed

• Up to 10 properties, £5million with Precise Mortgages and unlimited with other lenders

• Rental calculation based on 125% of the higher of the pay rate or revert rate

Alan Cleary, Managing Director of Precise Mortgages said: “Traditionally the summer months can see business levels soften but we want to increase our market share and have positioned our new buy to let range to achieve that objective.”

Jane Benjamin, Head of Relationship Management at Sesame Bankhall Group, added: “These new products should be attractive to landlords who are struggling to get a buy to let mortgage from high street lenders. At a time when many landlords are uncertain about how the recent tax changes will impact on them, as well as not knowing when the next interest rate change is likely to occur, the stability of a fixed rate, coupled with the lower Product Fee will make these products attractive to a wider range of customers.”

For intermediary use only
BBR 0.25% / 3 month LIBOR 0.29%