Precise Mortgages has made changes to its mortgage range.
All mainstream products will now be linked to Bank of England Base Rate (BBR) instead of Libor and first time buyers will be acceptable on selected products.
Meanwhile, trackers have been introduced into the mainstream range for the first time and prices start from 2.99% and revert rates from 3.99%.
The 2.89% two-year fixed now goes up to 75% LTV and the 3.39% two-year fixed at 80% remains available with no arrangement fees and both now revert to BBR +3.49% for life.
On the buy-to-let side, prices have been cut by up to 0.60 basis points and on the near prime buy-to-let products, maximum LTVs have been increased from 70% to 75%.
Precise said that its whole near prime range has also been refreshed so that if a borrower does not fit the mainstream range they can often be offered a product from the near prime range rather than a straight decline.
“We are building the broadest mortgage product range of any UK mortgage lender for the benefit of mortgage intermediaries and their customers,” said Alan Cleary, managing director of Precise Mortgages.
“Our mainstream pricing is amongst the best in the market and with full cascading we will always show the broker the cheapest rate we can find for the borrower’s circumstances.”
