The lender has increased interest-only availability up to 75% LTV and removed the minimum equity requirement where the the sale of the property forms the repayment strategy.
The refreshed range offers both two-year and five-year fixed options, with eligibility primarily driven by LTV and the suitability of the repayment strategy.
By raising LTV limits and removing equity thresholds, Precise aims to support customers looking to upsize using the sale of their property as their repayment vehicle.
- The Finance Professional Show 2025: The Video
- Precise provides £2m developer exit for Wirral scheme
- Precise app celebrates first birthday milestone
The lender said the widened criteria may also help those with less than perfect credit profiles who are seeking time to rebuild their scores.
Adrian Moloney, group lending distribution director at OSB Group (pictured above), commented: “We’re really proud to introduce these affordability enhancements, following direct feedback from brokers and the recent launch of our 40-year term.
“Today’s changes ensure more residential customers can benefit from appropriate affordability support where interest only is suitable.”
Leave a comment