Precise Mortgages

We are authorized by the Financial Conduct Authority. See our FCA registration here

(enter the registration number 303319)

Please note that generally Buy to let mortgages are not regulated by the FCA

No Broker Fees

We do not charge you any Broker fees, providing your mortgage is at least £100k.

Mortgages Direct are a whole of market Broker, so we can look at other lenders as well as Precise Mortgages to find you the best deal.

We can deal with BOTH regulated and non-regulated lenders

—- Enter your mortgage Enquiry here ——-

Why use Precise Mortgages

Precise Mortgages are a major Buy to let lender in the UK

They lend against buy to let property located in England, Scotland and Wales

Precise will lend in a wide range of circumstances.

They can consider applications for:

• Limited Companies
• HMO Landlords
• Multi Unit freeholds
• Light Refurbishment
• Heavy Refurbishment
• First time landlords
• Portfolio landlords

Applications can be considered  from first time landlords (but not first time buyers)

Applications can be considered from up to two people for personal applications

One applicant must be employed or self employed and have a provable income of at least £25k

You will need deposit funds of at least 20%

For property which fails the rental calculation, there is the possibility of using excess personal income to allow the mortgage to proceed

Limited company applications can have up to 4 applicants. At least one applicant should be a homeowner occupier

For multi-unit properties or HMO’s, Landlords should have at least 1 years letting experience

Check out Precise lending criteria here

Limited Company Applications

Limited Company applications are acceptable.

The Limited Companies should be Special Purpose Vehicles (SPV’s)

There can be up to 4 Directors in the company. None of the Directors should be Limited Companies

The company’s principal activity should be to hold and manage residential investment property.

Full personal guarantees will be required from the Directors

There is no limit to the number of Directors under the age of 21 subject to the shareholders being children of the Directors

HMO Property

You can apply for a mortgage in your own name or under a Limited Company

Precise will consider applications up to 80% LTV (up to £500,000)

There is a minimum property value of £100,000 (£250,000 in London)

Precise will consider properties with up to 6 bedrooms

Landlords must have a minimum of 1 years letting experience

The property condition must be suitable for letting in its current condition. Properties with low demand from Tenants due to poor condition will not be acceptable

The property must have a minimum EPC rating of E

Expats are currently NOT accepted