Precise Mortgages, the intermediary-only lender, will launch four exclusive buy-to-let products tomorrow with rates starting from just 4.44 per cent for selected postcodes in the south of the country.
Highlights include:
• 2 year trackers at 75 per cent LTV with rates from 4.44 per cent
• 2 year fixed rates at 75 per cent LTV with rates from 4.54 per cent
• Maximum loan size increased to £1 million
• Rental calculation changed to 125 per cent of pay rate or 5 per cent, whichever is the higher
• Refund of valuation fee on selected products
• No minimum income requirements
The core range of buy-to-let products which have no postcode restrictions in England and Wales will be re-launched in the coming weeks and will include enhanced criteria features and a raft of competitive rates.
Alan Cleary, Managing Director Precise Mortgages, said: “As the demand for our buy-to-let products increases, we are adding more products to the shelves to give brokers and borrowers more options. Our up and down cascading approach finds the cheapest product for the borrower’s circumstances meaning that if a borrower fails to qualify for the product applied for it doesn’t necessarily mean they will be declined.”
Today’s news follows the recent announcement that Precise Mortgages has no minimum income requirements on its core and exclusive buy-to-let ranges.
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