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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Latest Comments

SecomTech
SecomTech 22 Jun 2017

AT Last...This was discussed years ago and there was a move towards landlords registering their bad tenants on a database..(can't remember where) It seems a logical step though our leaders will probably...

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Bertrand
Bertrand 02 Jun 2017

How about the Welsh Govt introducing a scheme to protect landlords against "rogue" tenants who are then taken to court for criminal damage to the properties they trash. Pretty unlikely I suspect and politically...

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AmberMorris
AmberMorris 25 May 2017

"Please don't pick a novelty tune-playing doorbell. They're not 'fun'. They're stupid." Laughed a lot to this. It's actually true, though.

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Oliver Conway
Oliver Conway 18 May 2017

Making a neat inventory is a good idea, but if the seller is not willing to provide it, can the buyer demand it?

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Bertrand
Bertrand 17 May 2017

First step to nationalisation of the private rented sector IMHO. Nanny state poking their noses into things yet again. I object, as a decent landlord, sometimes having to deal with some pretty awful tenants,...

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Izzy
Izzy 16 May 2017

This is such a great a post. I love the detail you've gone into. It's a very useful article for helping those who are looking at deciding which sector they would like to go into! When I first started investing...

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paul burnham
paul burnham 30 Apr 2017

Jeremy Corbyn's pledge that a Labour government would build 500,000 new council houses must electrify the general election campaign. Reliance on markets and the profit motive has brought huge housing-related...

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CommercialTrust
CommercialTrust 28 Apr 2017

Sadiq Khan?s announcement of an online database of landlords and letting agents who have been convicted of housing offences, appears on face value to be a variation of the already implemented Database

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warren
warren 26 Apr 2017

You're very welcome Mary! Glad you enjoyed them :)

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Mary Ward
Mary Ward 26 Apr 2017

Thank you for the wonderful ideas. First impressions can make or break a deal. It's sadly that many homeowners drop the kerb to create an off-street parking space.

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Tony Gimple
Tony Gimple 14 Apr 2017

I'm not at all surprised that so many landlords are still confused about what the tax changes really mean and how it will affect them. In particular, the blind rush to incorporation is leaving landlords...

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MH
MH 13 Apr 2017

You are right that the bank holidays are going to be spoiled in looking for the properties. But people who want to sell their property and looking for the better relocation, they can get benefits of this...

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