Precise are back with 75% LTV

This afternoon I am delighted to be able to share with you some further enhancements to our range of first charge products following the return of physical valuations in England (in accordance with the recently announced government guidelines):

  • LTV limits increased to 75%across buy to let and residential first charges (plus lender fees)
  • Help to Buy reintroduced for purchase only
  • New Builds and Studio Flats now accepted again
  • HMO and MUBs (multi-unit) remortgages included
  • Applications for properties in Wales and Scotland continue to be welcomed. However, until physical valuations are available we will be unable to process these cases fully
  • Our Bridging Finance and Second Charge Loan ranges remain unaffected by these changes

We’re sure that you along with your intermediaries will welcome the additional changes that have been made to our range of long term products. As always, our commitment to supporting brokers and their customers through the times we find ourselves in remains our priority. Highlights of our long term lending criteria include:

Residential Mortgages

  • Options for capital raising (including debt consolidation)
  • Consider both the employed and self-employed
  • Unsecured arrears are not counted but may affect the customer’s credit score
  • Adverse considered – please see the product guide for details

Buy to Let Mortgages

  • 6 bed HMOs remortgages considered
  • Multi-unit BTLs (MUBs) remortgages considered
  • Portfolio lending available
  • Joint tenancy or tenants in common accepted
  • Bespoke ICRs – brokers should refer to our buy to let calculator atwww.precisemortgages.co.uk/BuyToLet/Calculators
  • 125% ICR available for limited company BTL
  • Adverse considered – please see the product guide for details

Liza, Ian, Jon and I are conscious that there are numerous fast paced changes taking place across the market during this time. We always appreciate your support in marketing our updates to your intermediaries, if there is anything that we can do to support you cascading this information to your databases please do let us know. We are always more than happy to assist, and thank you for the unwavering support you continue to provide.

As a starter for ten the sentence below may be useful for promoting these changes by email – I’ve tried to keep it as snappy as possible!

New products with an increased LTV and physical property valuations from Precise Mortgages

Precise Mortgages have launched a new range of products with increased LTV maximum of 75% across their range of buy to let and residential first charges. For more information click on the relevant product guide.

Please remember that our Sales Team are always available and would be happy to discuss these changes and the products detailed above.

Take care all and thank you in advance for your support.

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