Precise Mortgages has cut rates on its buy-to-let mortgage range.
The changes follow the improved rates on the second charge loan products announced last week.
New deals include:
- 2 year tracker rates from 3.49%
- 2 year fixed rates from 3.99%
- 5 year fixed revert rates reduced to 4.09% with rental calculation at 125% of the pay rate or revert rate
- Lifetime trackers with lower fees
- Extended fixed rate end dates
Alan Cleary, managing director of Precise Mortgages, said: “We estimate the size of the buy-to-let market to be in the region of £30billion in 2015, of which 50% will be remortgages. In order to support landlords, who are left underserved by the high street, we continue to make changes to our buy-to-let range.
“Not only have we reduced our buy-to-let mortgage rates, we’ve also reduced the revert rate on our buy-to-let five year fixed rate product.
“This coupled with our 125% rental coverage calculation means we can help buy-to-let landlords raise the funds they need.”