Precise Mortgages reveals online portfolio proposition

Precise Mortgages is adding its portfolio proposition to its website ahead of the PRA changes for portfolio landlords.

The specialist lender is looking to help brokers preparing for the Prudential Regulation Authority’s changes for portfolio landlords.

Precise is publishing new documents and details of the process brokers will need to adhere to after the changes take effect at the end of the month.

The lender will now require brokers to submit a business plan, assets and liabilities and statement, and details of their customer’s residential property portfolio.

Precise managing director Alan Cleary says: “We’re giving brokers a head start by making our forms accessible now. It means they can start collecting customers’ information in advance and be ready in plenty of time.”

Once information is added into the system it is valid for six months, helping with future applications.

Precise allows landlords to have up to 20 buy-to-let mortgages with a combined value of up to £5 million. There is no limit on the size of existing portfolios.



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