Precise Mortgages, a leading specialist lender and part of the OSB Group, has announced the expansion of its residential mortgage range with the introduction of a new one-year fixed-rate and other lifetime tracker mortgage products. These new products are significant as they may offer borrowers a short term product while mortgage markets fluctuate. Let’s go through the new product offerings now.
About Precise Mortgages
Precise may not be quite a household name yet, but the lender has established itself as a prominent player in the specialist mortgage market, known for offering a diverse range of mortgage products for the not so straight forward mortgage applicant or application. Specialising in mortgage lending for customers with complex income streams and/or adverse credit histories, Precise Mortgages is a great tool to any mortgage broker’s belt when a client’s situation isn’t black and white. Their product line-up includes buy-to-let mortgages, residential mortgages, bridging finance, and second charge loans.
New Mortgage Products Overview
Precise One-Year Fixed-Rate Mortgage
The newly introduced one-year fixed-rate mortgages are designed for borrowers seeking the security of fixed monthly payments without committing to a long-term fixed rate. This is particularly useful in the current climate where lender’s rates fluctuated on a daily basis. With inflation expected to fall within the next week, many people are also expecting mortgage rates to drop. This short term borrowing option can be useful to those who are hoping that rates will come down significantly, or perhaps don’t intend to stay in the property for a long period of time.
Precise Lifetime Tracker Mortgage
Additionally, the new lifetime tracker mortgages come with two distinct options to suit different borrower preferences:
- Fee Option: This option includes no early repayment charges, offering borrowers greater flexibility to make additional payments or settle the mortgage early without penalties.
- Fee-Free Option: This choice includes an early repayment charge for the first two years, providing an alternative for those who prefer to avoid upfront fees.
Both the one-year fixed-rate and lifetime tracker mortgages are available up to 85% Loan-to-Value (LTV) across various levels of adverse credit.
What The Lender Has Said
Adrian Moloney, OSB Group Intermediary Director, commented on the launch: “This launch reacts to current market conditions, providing our brokers with residential customers more options for their mortgages. Whether customers are looking for the comfort of a short-term fixed payment or for those wanting more freedom than what a fixed rate offers, these new products are designed to support the customers’ changing needs in an ever-changing market.”
Speak To A Mortgage Broker
At Oportfolio Mortgages, our advisors, as whole-of-market mortgage brokers, have full access to the comprehensive range of Precise Mortgages’ products. This means we can offer our clients tailored mortgage solutions that best meet their individual circumstances and preferences, leveraging the flexibility and innovation that Precise Mortgages brings to the market.
For more information on these new mortgage products or to discuss your mortgage needs, please contact Oportfolio Mortgages today and let our experienced advisors help you find the perfect mortgage solution.
