Brand new products from Precise Mortgages
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Precise Mortgage have had an overhaul. They have a new residential range only available via packagers and increased their portfolio lending limit to £10 million. Check out all the other great changes below, all available now at TFC Homeloans.
RESIDENTIAL
CORE RESIDENTIAL - Specialist Prime – Introducing a new ‘cleaner’ level of adverse to support clients with that profile. These are their lowest ever rates (from 2.59%). The range will initially be available as a pilot through the premier packager panel so you can call TFC Homeloans now to access this!.
- Rates have been reduced by up to 1% in their Core residential range. Clients with credit blips or adverse profiles can now benefit from rate reductions of up to 1%.
SPECIALIST RESIDENTIAL - Help to Buy – Your clients can take advantage of a reduction in 5-year fixed rates.
- Right to Buy – Introduction of a new lower rate option (20bps lower) with a £495 fee.
- Debt Management Plan – Rate reductions across the board as Core Residential rates (which is now priced lower) are reduced.
BUY-TO-LET AMATEUR LANDLORDS - Income supported buy-to-let allows clients to demonstrate they can support the loan by using the rent and their earned income – helping them to get the loan size they want.
- Reduction in short term fixed rates – Their 2-year fixed rates have been reduced by 30bps down to 2.89%. Add the benefit of income supported buy-to-let and your client can achieve the loan and term they want.
- Competitive 5-year fixed rates – Still the product of choice for many landlords with affordability calculated on pay rate, rates start from 3.49%.
- They have zero and fixed fee options, reductions in tracker rates, introduction of a Lifetime tracker and a new remortgage range with refund of valuation and a free remortgage legal service.
PROFESSIONAL LANDLORDS - Precise have matched the specialist buy-to-let rates to those in core buy-to-let.
- Expanded credit score banding – Your clients will have increased access to Tier 1 products and will not cascade into Tier 2 based purely on score. From this range, cascade on buy-to-let will only be based on adverse criteria.
- Portfolio Lending Limit increased to £10m with a maximum of 20 properties (unlimited with other lenders).
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