Precise cuts rates and launches 10-year fixes

Ryan Fowler

June 30, 2016

alan cleary 2016

Precise Mortgages has reduced the rates on its buy-to-let and residential range and introduced new 10-year fixed rate products. 

The reductions follow changes to the cost of five and 10-year money in the markets after the vote to exit the European Union.

Buy-to -let up to 75% LTV sees 5-year fixed rates reduced by 0.14% with rates starting from 3.85% and the introduction of 10-year fixed rates from 3.99%.

Precise Mortgages cuts price on HMO and Limited Company B2L

The residential range up to 85% LTV sees 6-year fixed rates reduced by 0.20% starting from 3.59% with 10-year fixed rates introduced from 3.79%.

Alan Cleary (pictured), managing director of Precise Mortgages, said: “Post the referendum we saw some financial turmoil, the result of which is an expectation that the Bank of England will reduce the base rate in the coming months. This has translated to a significant drop in the cost of 5 and 10 year money.

“We are passing on some of that saving by launching a range of new products in residential and BTL.

“The products sit alongside Precise’s current range of products and offer customers the chance to lock into historically low medium and long-term fixed products.”