Precise Mortgages reduces minimum lending age to 21

Precise Mortgages has cut its minimum lending age from 25 to 21 for landlords, as well as moving select tier 2 pay rates in line with tier 1.

Furthermore, Precise has introduced a new product – a five-year fix at 75 per cent LTV with a rate of 3.79 per cent, no product fee and refunds on valuation up to £630.

This product is designed for portfolio landlords.

Notable tier 2 products put in line with tier 1, are a five-year 80 per cent LTV, at 3.94 per cent, and a five-year 75 per cent LTV, at 3.74 per cent, with £300 cashback and refunds on valuation up to £630.

However, for these two products tier 1 has a 1.5 per cent product fee and tier 2 has a 2 per cent fee.

The introduction and changes are part of both the buy-to-let and limited company mortgage ranges.

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