Precise Mortgages, the specialist lender, has today launched a new range of products for tenants using the Right to Buy scheme to purchase their existing home. The Right to Buy scheme helps eligible council and housing association tenants in England buy the home they have been living in, by offering a discount, of up to £103,900 in London or £77,900 outside London, on the price of the property.
Highlights of the range include:
• Loans up to 100% of the discounted purchase price
• Maximum loan up to 75% of the open market valuation
• 5 year fixed rate products available to help with affordability
• Some products in the range will offer a zero product fee option
• Options available for customers with a less than perfect credit profile
Alan Cleary, Managing Director, Precise Mortgages commented: “The Right to Buy range builds on our previous support of the Help to Buy Equity Loan scheme. This demonstrates our ongoing commitment to support government initiatives and borrowers who have been excluded by high street lenders.”