Specialist lender Precise Mortgages has reduced pricing across its 2 and 3-year fixed rate residential products by up to 16 basis points, helping brokers support a broader range of homebuyers and remortgage customers.
The changes apply across its core residential range and include flexible fee structures, offering choices of £0 fee, a flat £1,495 fee, or a fee of 1% of the loan amount.
Two-year fixes now start from 4.84%, while 3-year rates begin at 4.97%. The lender’s 5-year fix remains competitively priced from 4.77%.
One of the most notable changes is to Precise’s Tier 2 2-year fixed product, which has seen rate reductions across all loan-to-value bands — including 75%, 85% and 95% — making it more accessible to borrowers with historic credit issues such as CCJs, defaults or mortgage arrears.
Adrian Moloney (pictured), intermediary sales director at OSB Group, said the decision reflects the lender’s focus on improving mortgage affordability, particularly for first-time buyers.
“These residential rate reductions show our ongoing commitment to improving mortgage affordability, especially for borrowers looking to get their first step on the property ladder,” he said.
He added that Precise would continue to apply a 1.25x stress rate on its 2 and 3-year fixed rate products — a significant advantage for affordability assessments — and that the range includes incentives such as free valuations and £300 cashback.
