Paradigm Mortgage Services has secured access to a semi-exclusive buy-to-let product from specialist lender Precise Mortgages.
Paradigm members are now able to access the two-year 2.89% fixed rate product, which is available up to 75% loan-to-value (LTV).
The mortgage deal, available for a limited time only, benefits from a reduced rate of 0.2% below Precise Mortgages’ standard product, a reduced fee of 1%, compared to 2% on its standard product.
“Our close relationship with lenders allows us to secure access to market-leading products on both an exclusive and semi-exclusive basis, so we are pleased to be able to offer this Precise Mortgages deal to our member firms,” said John Coffield, head of Paradigm Mortgage Services.
“It [the mortgage deal] comes with a very competitive rate and fee – both reduced from the lender’s standard offering – and should stack up well for advisers looking for a quality deal,” he added. “As mentioned, it will only be available for a limited time so Paradigm members are advised to act quickly if they believe this deal is suitable for their landlord clients.”
This product comes with a reversion rate of 5.5% and ERCs of 4% in year one and 3% in year two.
Alan Cleary, managing director of Precise Mortgages, commented: “This new buy-to-let product will help provide an alternative choice for customers who are looking to benefit from lower up-front costs and monthly repayments.
“We’re pleased to support Paradigm in offering this shared exclusive and are confident it will be well received by its advisers and customers alike.”