Specialist lender Precise, part of the OSB Group, has announced a comprehensive refresh of its residential mortgage range, introducing reduced fixed rates and an expanded selection of fee-free products aimed at easing affordability pressures, particularly for first-time buyers.

The latest update sees Precise’s 5-year fixed rate now starting from 4.74%, while 2-year and 3-year fixed options begin at 4.89% and 4.99% respectively.

In addition to the lower pricing, the lender is offering enhanced incentives including no product fees on selected deals, a refund of valuation fees and £300 cashback, all designed to help customers manage upfront costs.

The refreshed range also includes a 5-year fixed rate at 5.04% on Tier 2 products, which the lender says is among the most competitive in the market for borrowers with adverse credit histories. This product is accessible to customers who have experienced County Court Judgments, defaults or mortgage arrears, further widening access to homeownership for those with more complex financial profiles.

Adrian Moloney, intermediary sales director at OSB Group, said the changes were made in direct response to current market conditions. “Our teams are constantly reviewing market conditions and have quickly made positive changes to help our broker partners support their residential customers,” he said.

He added that affordability remains a major obstacle, particularly for first-time buyers. “Affordability continues to be a barrier for many home movers but especially first time buyers, so I am delighted that with these changes we’re able to help more customers move home and fix at an affordable rate.”