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.

Recommended

General-Business-Contract-Hire-Appointment-700x450.jpg
1

BSA and CA call for leasehold change

Two major industry bodies are urging the Government to make vital changes to leasehold agreements. Responding to the Government’s consultation on tackling unfair practices in the leasehold market, the BSA and CA are calling for change. The Building Societies Association says it supports proposals to restrict the creation of new build leasehold houses. But the […]

Percentages-Per-cent-Percent-Performance-700.jpg
1

Which way for mortgage rates in 2017?

Following an avalanche of rate cuts, the mortgage industry should brace itself for a possible upward turn as lender costs and inflation rise, experts advise The trend for mortgage rate cuts is coming to an end and both brokers and clients should prepare for hikes this year, according to industry experts. Meanwhile, lending giants including […]

Question-Marks-700.jpg
6

Brokers defend fees after ‘double-dipping’ claims

Brokers have refuted claims they overcharge customers by charging them a fee while also taking a commission from lenders. The issue has been thrust back into the spotlight by One 77 Mortgages, which yesterday said borrowers are wasting £370m a year on unnecessary mortgage advice fee to brokers. One 77 Mortgages managing director Alastair McKee […]

Johnson Fleming is a finalist at UK Pensions Awards 2016

The UK Pensions Awards shine the light on excellence and recognise the advisers, providers and investment managers that offer the highest level of innovation, performance and service to occupational pension schemes and their members. This year’s awards looked at advisers and providers across 31 different categories and were rigorously judged by a panel of senior […]

Newsletter

News and expert analysis straight to your inbox

Sign up