Precise has launched a five-year fixed limited edition residential range, which includes valuation and assessment fees.
The specialist lender, part of OSB Group, says the range has been created to help brokers with customers who have limited disposable income, including those with less-than-perfect credit profiles and/or debt management plans.
The fixed product fee of £995 can be added to the loan amount meaning that borrowers can also save on upfront mortgage costs which could be a barrier.
The limited edition product’s features include:
Rates from 5.49%
Available at 75% and 85% LTV
Loan sizes between £75,000 and £300,000
Automatic cascade available for faster decisions-in-principle
OSB group intermediary director Adrian Moloney says: “With recent reports highlighting that there is almost a 30% difference in house price increases vs income growth1, alongside cost-of-living challenges, borrowers need as much support as they can get.”
“The expenses associated with buying can be significant, particularly for first-time buyers and this limited edition range removes any upfront mortgage costs, helping to ease the financial pressure.”
“Fixing could be a great option for borrowers looking for the comfort and security of a fixed monthly payment and with a five-year option, it helps homebuyers budget for the longer term.”