Precise, part of OSB Group, has made a series of changes within its buy-to-let product ranges.
Changes include reductions of current Tier 1 80% LTV buy-to-let rates by 50bps.
The lender, which recently rebranded from Precise Mortgages, 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 (pictured), group intermediary director at 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.”