So, you’re thinking about buying a property to rent out? Good news, because Precise has just announced some major changes to their buy-to-let mortgage deals that might just make your next investment easier.

Precise has slashed their interest rates, starting from 4.49%. This means you could be paying less each month on your mortgage, leaving you with more cash to spend on improvements or simply put in your pocket.

More Flexible Criteria, More Property Options

But that’s not all. Precise has also loosened up its rules on what kind of properties it will lend against. They’ve made it easier for landlords who want to buy:

• HMOs: Houses in Multiple Occupation (think shared houses)
• MUFBs: Multi-Unit Freehold Buildings (think flats with separate ownership)
• Properties owned by limited companies: This makes it easier for landlords who operate their property business through a company

Plus, the good news doesn’t stop there! Precise has made it easier to get a mortgage on properties with a larger loan-to-value (LTV) ratio. This means you can borrow a bigger proportion of the property’s price, making it easier to get your hands on that perfect rental.

Fee-Based Products Give You More Flexibility

If you want the peace of mind that comes with a fixed monthly payment, Precise has introduced some great new options with fees. This means you can choose a fixed rate for two or five years, and you’ll know exactly how much your mortgage payments will be.

Adrian Moloney, the boss of Precise’s lending team, said, “These new fee-based deals will really help brokers and their clients who want to be sure of their monthly costs and want to borrow a bit more.”