View more on these topics

Precise launches range of second charge buy-to-let products

Precise Mortgages has launched a range of second charge buy-to-let products with rates starting at 5.95 per cent.

The products, aimed at prime landlords wishing to raise capital from the equity in their portfolios, are available on an interest-only and capital repayments basis.

At 65 per cent LTV, the lender is offering a lifetime tracker at base plus 5.45 per cent. The fixed rates on offer are a 6.35 per cent two-year product, a 6.55 per cent three-year product and a 6.85 per cent five-year product.

At 70 per cent LTV, the lender is offering a lifetime tracker at base plus 5.95 per cent. The fixed rates on offer are a 6.85 per cent two-year product, a 7.05 per cent three-year product and a 7.35 per cent five-year product.

Finally, at 75 per cent LTV, Precise is offering a lifetime tracker at base plus 6.45 per cent. The fixed rates on offer are a 7.35 per cent two-year product, a 7.55 per cent three-year product and a 7.85 per cent five-year product.

All products offered have a £495 fee. The maximum loan at 65 and 70 per cent LTV is £150,000 and at 75 per cent LTV it is £100,000.

Precise Mortgages managing director Alan Cleary says: “We expect to see approximately 108,000 buy-to-let remortgage transactions this year and many of these landlords may have been financially better off if they had access to a competitive buy-to-let second charge loan product instead.  

“Now they have.”

Recommended

Paul-Smee-700.jpg

Paul Smee: ‘Stop using B2L for target practice’

Buy-to-let lending has become a bit used for target practice recently, sometimes looking like a lightning rod for every gripe, criticism and complaint about the housing market. Recent strong growth may have fuelled this narrative but we still need to put everything into context. It is easily overlooked that buy-to-let mortgages fund only a third […]

House-Property-Rising-Price-Propert-Ladder-500x320.jpg
1

House prices fall for the first time in 5 months

House prices fell for the first time in five months in July, says Halifax. According to the lender’s latest house price index, prices fell 0.6 per cent to £198,883 last month. However, on an annual basis, prices were up 7.9 per cent. Halifax managing director of retail customer products Stephen Noakes says: “The underlying pace […]

mole

Mortgage Mole: Hoff-tackle

Hoff-tackle Mole read last week that the England rugby team have been issued with social media guidance for the forthcoming World Cup. It covered everything you would imagine: don’t post pictures of drinking, smoking or nudity; don’t provoke opposition players or fans; and take 30 seconds to tweet a ‘Thank you’ to fans after a […]

Newsletter

News and expert analysis straight to your inbox

Sign up