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Precise Mortgages loosens B2L criteria

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Precise Mortgages has loosened its buy-to-let criteria by doubling the number of loans landlords can hold with the lender to 10.

Further, Precise has increased the maximum combined value of these loans from £2m to £5m.

The lender has also removed a previous restriction on the number of £1m plus loans that can be held with it.

Managing director Alan Cleary says: “As can be seen from our research many people use property as part of their retirement planning. Our latest criteria changes will help landlords build their portfolios.

“The private rental sector desperately needs additional housing stock so by enabling landlords to increase their portfolios these improvements also benefit tenants.”

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