HMO criteria extended at Precise

HMO criteria extended at Precise

Specialist lender, Precise Mortgages, has announced today that it has expanded its lending criteria to accept properties with up to eight bedrooms – an increase from the six accepted when the products were initially launched in January.

Last month, the lender also launched Ltd Company products as well as improving its criteria for buy to let landlords in retirement.

Mortgage brokers can submit HMO and Ltd Company buy-to-let cases through authorised packagers, as well as direct with the lender.  

Alan Cleary, Managing Director of Precise Mortgages says: “Our specialist buy-to-let products have been really well received by mortgage intermediaries. In order to meet ongoing market demand, we are continuing to expand both our product range and lending criteria. Both professional and retired landlords will increasingly need specialist products as taxation plays a bigger role in their overall investment decisions.”


Doug Hall, Director of 3mc added: “It’s great to see a major specialist lender enter the HMO space.  Precise Mortgages have launched into more new product areas so far this year than most lenders will do in an entire year.  More choice and more competition equal good news for brokers and their customers.  Also, it is great that these products are available via 3mc club as well as the packaged route.”

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Tony Gimple
Tony Gimple 16 Jan 2017

HMOs do make great commercial sense, but do the area research first!

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OJoyce
OJoyce 30 Dec 2016

We can only hope this will bring the results we all want and strive for.

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Reality
Reality 21 Dec 2016

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akbar ali dayala 20 Dec 2016

I am a landlord and director of an online letting agents at the moment we charge tenants minimal fees and landlord also meaning we can get best deals for tenants all around if the ban comes in it...

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milessgabriel
milessgabriel 05 Dec 2016

Useful article

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Spencer Fortag
Spencer Fortag 30 Nov 2016

I am glad that someone listened to me!

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Tony Gimple
Tony Gimple 27 Nov 2016

It's not just the lack of estate agency advice that's costing landlords money; most are getting seriously bad advice from their accountants resulting in tax bills far higher than they need to be. Likewise,...

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Sally Walmsley
Sally Walmsley 18 Nov 2016

The RLA stands by its sell-off statistics. While we welcome the feedback from Mr Jagota and are delighted to hear how well things are going for landlords in the north east, we would like to make it clear...

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Sheryl87
Sheryl87 18 Nov 2016

The high employment levels and the vibrant economy has led to ever-increasing demand for rental properties, especially from professionals relocations from other cities. This has led to more experts teaming...

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Sheryl87
Sheryl87 18 Nov 2016

Renting out your house can be risky business. It's good to think about residential landlords insurance. Standard cover includes buildings cover and cover for loss of rent following damage to a property...

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AmberMorris
AmberMorris 09 Nov 2016

Fear of ghosts, really?? Ok, I get the fear of bats in the attic and mice and rats running under your nose - those are easy to deal with pest issues which are really unpleasant and can turn you off. But...

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AmberMorris
AmberMorris 08 Nov 2016

In my experience, It has always been a matter of discussion between the landlord and the tenant. There are cases when it's clear who's responsible for the pest control costs. I see a lot of people in forums...

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