Precise cuts fixed rates and launches ten-year range

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Precise Mortgages is launching cheaper residential and buy-to-let five- and ten-year fixed rate deals due to a predicted fall in Bank of England base rate.

A Precise statement says it expects base rate to fall in response to Brexit “financial turmoil”.

Precise Mortgages managing director Alan Cleary says: “This has translated to a significant drop in the cost of five and ten year money.

“We are passing on some of that saving by launching a range of new products in residential and B2L.”

For buy-to-let up to 75 per cent LTV Precise is cutting five-year fixes by 0.14 per cent, with rates now starting from 3.85 per cent.

The lender has brought in ten-year fixes up to 75 per cent LTV starting from 3.99 per cent.

For residential mortgages, Precise has cut rates on six-year fixed by 0.20 per cent, with products starting from 3.59 per cent.

The lender has introduced ten-year fixes with rates beginning at 3.79 per cent.

These products go live today.