FIXED RATE MORTGAGES of 3.14% for 2 years & 3.69% for 5 years, withdrawn.

NEW FIXED RATES of 3.49% for 2 years & 3.59% for 5 years, both max 75% & both with £995 fee. W.e.f 19.5.20Precise Mortgages

Precise Mortgages has today removed its two 70% loan-to-value products and replaced them with 75% deals, with its two year fixed rate now priced at 3.49%. Compared to others in this sector of the market this is is some way off the lowest rate currently available elsewhere in this field of 1.14%. The fee of £995 is cheaper than many of its lower priced rivals, however no further incentives are included. Moneyfacts Rating: Competitive

SOURCE: MONEYFACTS – Precise Mortgages

Alan Cleary, managing director of OneSavings Bank, said: “Whilst it’s been an odd and unsettling time, I’ve been especially proud of the efforts that the OneSavings Bank team has made to ensure a level of business continuity for our intermediary partners during the lockdown period. Being agile enough to come out so quickly with a new 75% LTV offering is a great testimony to their dedication.

“A return to physical valuations is obviously a really positive step for the market and we know from our regular conversations with brokers that it was absolutely vital we were up and running as soon as these were possible. We’ve made great efforts to be transparent with our brokers, with regards to our lending appetite, to manage their expectations and also demonstrate that we can move quickly in response to the changing market.

“It’s more important than ever for us to work closely with our brokers to help them guide customers through the new complexities that Covid-19 has brought to the market whilst continuing to innovate and offer lending solutions that work for them.

“But I emphasise that this is only the start of the journey and if the UK’s recovery continues on this trajectory then we intend to move forward at pace.”

SOURCE for QUOTE: Financial Reporter