Precise Mortgages

​​​​Precise Mortgages offer a range of buy to let and residential second charge loans. These loans are available for any loan purpose, including offering a quicker alternative to a traditional remortgage.

Directly authorised advisers have the choice of submitting their second charge loan cases direct to Precise Mortgages via PMS, or through their panel of preferred master advisers.

Procuration Tables

Gross fee paid by lenderProcuration fee to intermediary

Residential                     0.60%
Buy to let                        0.60%
Bridging                         1.75%
Fee free bridging          1.00%
Second charge loans   1.50%
Refurbishment Buy-to-Let – Bridge 0.60%
Refurbishment Buy-to-Let – Buy-to-Let  0.60%                              

All information correct as at 14/11/2018

Residential                  0.50%
Buy to let                     0.50%
Bridging                       1.30%
Fee free bridging        0.90%
Second charge loans 1.25%
Refurbishment Buy-to-Let – Bridge 0.50%
Refurbishment Buy-to-Let – Buy-to-Let  0.50%                              

All information correct as at 14/11/2018

Overview

Your multi-award winning specialist lender

Precise Mortgages continually enhance their products, criteria and service proposition to offer a wide range of borrowing options - providing solutions for customers who struggle to meet high street lenders’ criteria.

They were proud to be named PMS’s Best Specialist Lender 2017 and are committed to helping more of your customers through 2018 and beyond.

  • Online searchable criteria  – includes all product lines
  • Residential and Buy to Let Mortgage submission guides that identify documentation needed for the application from day 1
  • Online calculators available for Buy to Let Mortgages and Portfolios 
  • DIP/Application online system available 24/7 that leaves a soft footprint at DIP
  • Direct access to their range of Second Charge Loans

Residential Mortgage Highlights

  • Minimum 1 year’s self-employed trading in most cases
  • Less than perfect credit profile considered (including CCJs and defaults – 0 in 3 months)
  • Options available for Debt Management Plans up to 85% LTV
  • First time buyers considered up to 85% LTV
  • Right to Buy and Help to Buy products available
  • Interest Only and Part and Part repayment methods available 

To see what else they can consider click here to see their Residential Mortgages Key Information Sheet.

Buy to Let Mortgage Highlights

  • Top Slicing option available – find out more here 
  • Options available for Limited Companies, including SPVs
  • HMOs with up to 8 bedrooms and 2 kitchens
  • Portfolios: up to 20 loans with Precise Mortgage (up to £10m value) – unlimited with other lenders
  • Interest coverage ratio (ICR) from 125% - bespoke ICRs available based on individual circumstances 
  • Studio flats accepted
  • Maximum age of 80 at application (maximum term of 35 years)

To see what else they can consider select one of their Key Information Sheets below:

Bridging Finance Highlights


  • First and second charges available
  • Joint legal representation offered to help reduce costs for customers
  • Automated valuations (AVMs) option available
  • No blended rate for cross collateral charges
  • Lend up to 100% with additional security

Click here for scenarios where Bridging Finance may be the solution for your customer.

Second Charge Loan Highlights

You can submit direct to Precise Mortgages or use their Master Broker Panel. Click here for more information on how to submit direct.

Residential

  • Loans available for any purposes (includes tax bills, capital raising, business use and holiday homes)
  • Terms available between 3 and 35 years
  • Minimum 1 year’s self-employed trading in most cases 
  • 100% of rental profit on investment properties can be used to supplement affordability 
Buy to Let

  • Loans available for any purposes (includes tax bills, capital raising and property investment)
  • Terms available between 3 and 35 years
  • Maximum age at application up to 80 years old, maximum term of 35 years
  • No minimum income required (must be able to cover rent voids and maintenance costs)
  • Customers with up to 3 buy to lets can use earned income to meet the ICR calculation
  • ICR calculated at pay rate on 5 year fixed rate products (additional underwriting may be required)

Click here to see their buy to let calculator. 

Address

2 Charter Court
PO Box 6037
Wolverhampton
WV1 9QW

For enquiries

Intermediary & underwriting support team: 
0800 116 4385


Sales Team: Click here to access their details.

Registration process

Click here to register with Precise Mortgages and follow the simple steps provided.

If you’re already registered with Precise Mortgages and would like to submit a case click here.