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Precise improves HMO criteria

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.”



Precise ups age limit on second charge B2L

Precise Mortgages is extending its upper age limit on second charge buy-to-let mortgages to 110. Last month the lender changed its criteria on first charge buy-to-let loans to allow a customer to apply at the age of 80 for up to a 30 year term, up to 110 years old. The lender extended the same […]


Precise enters Help to Buy scheme

Precise Mortgages has entered into the Government’s Help to Buy equity loan scheme for the first time. The range is aimed at borrowers who have minor adverse and would not be served by the high street lenders. Borrowers must have a 5 per cent deposit, although this can be supplemented by up to 5 per […]

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Precise Mortgages up for sale

Precise Mortgages is seeking a new backer to fuel its growth ambitions, Mortgage Strategy understands. The lender appointed Deloitte in the summer to tout out potential buyers, although it is understood the information memorandum will be sent to firms in the coming days. The sale includes all companies under the Charter Court Financial Services umbrella, […]


FCA investigating product access for older borrowers

The FCA is seeking to find out whether there are any barriers stopping older people from accessing financial services products – including mortgages. The regulator published a discussion paper today, which includes a consultation. The FCA is asking: Do you have any views on the ideas set out in this Discussion Paper and can you […]


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