Precise has reduced rates across its residential mortgage range by up to 35bps.

The specialist lender, part of OSB Group, said the changes were designed to support brokers placing specialist residential mortgage cases.

The reductions apply across its Tier 1 to Tier 5 products.

Selected products up to 95% LTV have been cut by 35bps, while all fixed rates up to 90% LTV within Tier 1 and Tier 2 have been reduced by 30bps.

Across Tier 3 to Tier 5, all fixed rates have been reduced by 20bps across all LTV bands.

Emily Hollands, group head of intermediary sales and distribution at Precise, said: “The latest Bank of England Money and Credit data suggests activity is holding up despite ongoing affordability pressures, with buyers becoming more comfortable operating in the current rate environment.

“The continued focus on affordability means pricing remains an important consideration, and these reductions, alongside the changes we have made to our products and proposition in recent months, are designed to give brokers greater scope to place a wider range of cases with confidence.”