Precise Mortgages has reduced rates on its buy-to-let mortgage range...

The changes come following improved rates on its second charge products as Precise looks to continue supporting buy-to-let landlords.

Alan Cleary, Managing Director of Precise Mortgages, estimated the size of the buy-to-let market as being in the region of £30bn, half of which would be remortgages.

“In order to support landlords, who are left underserved by the high street, we continue to make changes to our buy-to-let range,” said Alan.

“Not only have we reduced our buy-to-let mortgage rates, we’ve also reduced the revert rate on our buy-to-let 5-year fixed rate product.  

“This, coupled with our 125% rental coverage calculation, means we can help buy-to-let landlords raise the funds they need.”

Other highlights include:

•    2-year tracker rates from 3.49%
•    2-year fixed rates from 3.99%
•    5-year fixed revert rates reduced to 4.09% with rental calculation at 125% of the pay rate or revert rate
•    Lifetime trackers with lower fees
•    Extended fixed rate end dates