Precise enters Right to Buy market
Precise Mortgages has launched a range of products for tenants purchasing their existing home under the government’s Right to Buy scheme.
The loans offer up to 100% of the discounted purchase price, and will be available for up to 75% of the open market value of the property.
The lender’s 5-year fixed rate products are available to help with affordability and some loans will be available without a product fee.
The buy-to-let scheme helps eligible council and housing association tenants in England buy the home they have been living in by offering a discount on the purchase price of up to £103,900 in London or £77,900 outside London.
Alan Cleary, managing director at Precise Mortgages, said: “The Right to Buy range builds on our previous support of the Help to Buy Equity Loan scheme.
“This demonstrates our ongoing commitment to support government initiatives and borrowers who have been excluded by high street lenders.”