Precise has strengthened its residential mortgage range with a series of rate cuts, new loan-to-value bands and wider fee choices, in a move aimed at improving affordability for homebuyers and remortgagers.

The specialist lender, part of OSB Group, has also recently increased residential income multiples to as much as six times for eligible customers – including those with adverse credit histories – across all borrower types.

The change applies to employed and self-employed applicants, single and joint borrowers, first-time buyers, home movers and those looking to refinance.

Among the latest enhancements are five-year fixed rates from 4.72% and two-year fixes from 4.73%, along with new 55%, 65% and 80% LTV bands. Borrowers can now choose from fee structures of 1%, £1,495 or £0, with the latter also available with a refund of valuation fees and £300 cashback.

Adrian Moloney (pictured), intermediary sales director at OSB Group, said: “We are delighted to further enhance our product offering to brokers with residential customers, helping more to get their foot on the property ladder, as well as supporting those upsizing and downsizing.

“Precise remains committed to offering a range of options to serve buyers with potential affordability challenges such as deposit constraints, affordability and imperfect credit histories.

“Within this bolstered range, we’ve included a number of rate reductions, including our Tier 2 adverse option which has been reduced by up to 0.46%.”