Precise cuts rates by up to 60 bps and refreshes entire residential range

09 August 2024

Precise, part of OSB Group, has reduced rates across their entire residential range including their popular 5-year fixed product which has been reduced by 60 bps. The range has also been completely refreshed with increased affordability options.

Highlights of the residential range changes include:
• 5-year fixed rates now starting from 5.29%
• 2-year fixed rates now starting from 5.69% and reduced reversion rate, helping further increase customers’ borrowing capacity
• 1-year fixed rates now starting from 5.69% also with a reduced reversion rate
• Lifetime trackers starting from 6.64%, now with a fixed fee of £995

Adrian Moloney, Group Intermediary Director, OSB Group said, “Following on from the Bank of England announcement last week which brought the base rate down to 5%, we’re delighted to be offering our lowest rates for some time.”

“Our refreshed residential range provides increased affordability options as well as potential solutions for those with varying degrees of credit impairment. We’ve really amplified our support towards the many borrowers out there who are facing difficulties with trying to get a mortgage from a high street lender.”

Stephanie Charman, Group Partnerships & Propositions Director, SBG said “In the current housing market and with a large number of fixed-rate mortgages due to come to an end this year, many homeowners are concerned about rate volatility and what this might mean for them going forward.”

“We welcome these moves from Precise therefore in offering borrowers access to products and solutions that give them further choice and affordable options in these challenging times.”