Specialist lender Precise, part of OSB Group, has announced changes to its residential mortgages.

It’s increasing the maximum LTV to 95%, increasing maximum loan sizes and reducing stress rates. The expanded range also incorporates cheaper pricing solutions for first time buyers, self-employed, remortgage and debt consolidation customers.

Key product highlights include:

• Rates from 4.89% (0.70% reduction) 

• Maximum LTV increased to 95% and fees can be added to the loan

• Maximum loan increased from £2m to £5m

• Stress rate on 2-year and 3-year products reduced to 1.25% 

• Debt consolidation available up to 90% LTV

Adrian Moloney, Intermediary Sales Director, OSB Group says: “The stamp duty deadline may be upon us but it’s still a great time to buy. According to the latest Rightmove research, new buyers are now seeing the highest range of property choice at this time of year since 2015 and mortgage rates are down considerably from the peak of 6.11% in July 20231. 

“I’m delighted to unveil these new residential products from Precise with lower rates, increased LTVs and max loan sizes as well as reduced stress rates.”

Stephen Martin, Mortgage Services Consultant at Connells, adds “With more first time buyers looking to get their foot on the property ladder, it’s great to see Precise’s expanded residential offering. It means our customers have access to an improved range of financial options and flexibility which is absolutely vital in this area of the market. 

“These products also go a long way in supporting customers with affordability challenges, especially those with less than perfect credit. It’s only with the support of a specialist lender like Precise, that we can offer ourcustomers more accessible and affordable options.”