Precise improves HMO criteria

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Precise Mortgages has extended its house in multiple occupation lending criteria to accept houses with eight bedrooms.

The lender first launched its HMO products last month, when the limit was six bedrooms.

Last month Precise also launched limited company products as well as improving its criteria for buy-to-let landlords in retirement.

Brokers can file HMO and limited company buy-to-let cases through authorised packagers, or can go direct to Precise.

Precise Mortgages managing director Alan Cleary says: “Our specialist buy-to-let products have been really well-received by mortgage intermediaries.

“In order to meet ongoing market demand, we are continuing to expand both our product range and lending criteria. Both professional and retired landlords will increasingly need specialist products as taxation plays a bigger role in their overall investment decisions.”