Precise has launched a 4.69 per cent buy-to-let five-year fixed rate exclusively through packager Positive Lending.
The product has a 1.5 per cent fee and is available to 75 per cent LTV. It is a 15 basis point reduction on the standard version of the product although the fee is 50 basis points higher.
The rental calculation if based on 125 per cent of 4.69 per cent rather than 5 per cent.
Positive Lending managing director Chris Fairfax says: “This product offers a competitively priced five-year fixed buy-to-let product with the added advantage of improved rental calculation compared with precise standard and others in this sector. On a typical rent of £1,000 per calendar month this equates to £12,000 increased borrowing compared to standard.”