Precise Mortgages cuts price on HMO and Limited Company B2L

Gatehouse HMO

Precise Mortgages has slashed its HMO rates by 0.6% and cut its limited company buy-to-let rates by 0.55%.

And the lender has also launched a new 2-year fixed rate at 2.79%pa with a 1.50% product fee available via L&G and Sesame Bankhall Group.

Alan Cleary (pictured), managing director of Precise Mortgages, said: “Traditionally the summer months can see business levels soften but we want to increase our market share and have positioned our new buy-to-let range to achieve that objective.”

Jane Benjamin, head of relationship management at Sesame Bankhall Group, added: “These new products should be attractive to landlords who are struggling to get a buy-to-let mortgage from high street lenders.

“At a time when many landlords are uncertain about how the recent tax changes will impact on them, as well as not knowing when the next interest rate change is likely to occur, the stability of a fixed rate, coupled with the lower product fee will make these products attractive to a wider range of customers.”

Other highlights of the range include pricing and fixed rate end dates refreshed including up to 10 properties, £5million with Precise Mortgages and unlimited with other lenders.

Rental calculation is based on 125% of the higher of the pay rate or revert rate.

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