Following a chain of its product improvements this year, B&C can exclusively reveal that Precise Mortgages has reduced rates on its second charge facilities.
The changes made by 2014’s Best Regulated Bridging Lender include:
- New reduced rates across its second charge bridging loans range by up to 0.3 per cent per month;
- Standard and Life Refurbishment rates still market leading from 0.65 per cent per month; and
- Heavy refurbishment rates still market leading from 0.75 per cent per month.
Commenting on the slashed rates, Alan Cleary, Managing Director at Precise Mortgages, said: "This change means that Precise Mortgages has the best second charge rates in the market.”
Its range of bridging loans have no maximum size, nor do they charge early repayment fees, with its maximum LTV reaching to 75 per cent.
This isn’t the first time Precise Mortgages has improved its lending criteria this year. Back in April, it provided a 32 per cent rate chop on its revamped Heavy Refurbishment Range.
It also refreshed its Bridge to Let product so that clients could switch from their bridging loan to their Buy To Let loan at any time after completion.
Also making recent changes to product ranges, was Mint Bridging, launching a six suite range earlier this month.
Leave a comment