Precise, part of OSB Group, has made a number of changes across its buy to let product ranges.
Highlights include:
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Current Tier 1 80% LTV buy to let rates reduced by 50bps
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New Tier 2 and Tier 3 buy to let ranges for adverse cases
The lender has re-introduced Tier 2 and Tier 3 buy to let products, starting from 5.19%, designed for buy to let customers who have had challenges with their credit previously.
Adrian Moloney, Group Intermediary Director, OSB Group said “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.
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.”