Landbay and Precise unveil BTL and bridging finance updates

Landbay and Precise unveil BTL and bridging finance updates

0:04 AM, 31st January 2025, About 2 hours ago

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Landbay and Precise have both announced updates to their product offerings, with Landbay reducing buy to let mortgage rates and Precise cutting bridging finance costs while introducing a new developer exit loan.

Landbay’s reductions in BTL interest rates will some products reducing by 0.20%.

Two-year fixed rates now begin at 3.59% for up to 75% loan-to-value.

Five-year fixed rates, and those for landlords with limited portfolios, have also been lowered.

The move follows recent improvements to its small HMO/MUFB offerings.

Remortgage and new purchase options

Rob Stanton, sales and distribution director at Landbay, said: “After kicking off the year by expanding our popular limited-edition range to include remortgage and new purchase options, it’s great to be able to announce rate cuts across our product range.

“Landlords continue to show their resilience and respond to investment opportunities across the country.

“As a lender, we need to make sure our product range is there for those landlords and the many brokers that support them.”

Reductions to ridging finance range

Meanwhile, Precise, part of OSB Group, has made reductions across its bridging finance range and introduced a new developer exit product.

Bridging rates now start at 0.62% monthly, with products available from 55% to 75% LTV.

Its range covers standard bridging, refurbishment projects (Tier 1 and 2), and the fresh developer exit option for those selling properties, arranging long-term financing, or seeking capital for new ventures.

The firm’s head of bridging, Alan Kimber, said: “The bridging market was expected to hit £10.9 billion in value by the end of 2024 and has continued to gain momentum as we get closer to the stamp duty changes coming in from April 2025.

“These rate cuts along with the criteria changes and wider LTV banding reflect our efforts to help ease the stress for unexpected situations where bridging could be the ideal solution for their requirements.”

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