HMO and Limited Company

Overview

Here at Precise Mortgages we’re proud to help landlords with complex lending needs as well as those who have been underserved by high street lenders. Whatever their circumstances we have a broad range of specialist lending solutions.

Making it easier

Click here to view our mortgage submission guide. This document has been designed to help provide a smooth application process for you and your customer.

Highlights and features:

  • Maximum term of 35 years
  • Maximum age at application 80 years

What you need to know:

Limited Companies

  • Rental cover - Assessment rate:
    • Pay rate plus 1.55% (minimum 5.50%) for short-term fixed and tracker products
    • Pay rate for 5-year fixed rates
  • Portfolio: up to 20 properties to a total value of £10m with Precise Mortgages, no limit on the size of existing portfolio
  • Maximum term: 35 years (maximum guarantor age at application 80 years)
  • Ownership: No limit on number of shareholders under the age of 21, subject to them being a director’s dependant. Newly formed SPVs accepted, as well as personal to Limited Company with equity gifts and capital raising
  • HMO: applications for HMO properties accepted

HMO properties

  • Experience: experienced landlords only. Applicants must have held a current buy to let for at least 12 months prior to application. No first time landlords
  • Maximum term: 35 years (maximum age at application 80 years)
  • Occupancy: properties with up to 6 bedrooms accepted
  • Minimum valuation: £250k in London, £100k elsewhere
  • Portfolio: up to 20 properties to a total value of £10m with Precise Mortgages, no limit on the size of existing portfolio
  • Rental cover - Assessment rate:
    • Pay rate plus 1.55% (minimum 5.50%) for short term fixed and tracker products
    • Pay rate for 5-year fixed rates

Packager Panel

Let our Packager Panel do the work for you.

You can submit a residential or buy to let mortgage to us direct or alternatively you can introduce a case to one of our packagers.

Contact one of our Packagers direct today.

Bank of England Base Rate (BBR) Trackers and the Reversion Rate

BBR Trackers and reversion rates are variable rates that are linked to the Bank of England base rate. For new applications, any change to BBR will apply on our systems and documentation the next day. For existing accounts, any change to BBR will apply on the day of the change.

All of our BBR tracker products have a floor. This means that if BBR were to fall to 0.00% or less the rate payable will be 0.00% plus the agreed set percentage above BBR. This means that the rate payable will never go below 0.00% plus the additional percentage rate of the tracker mortgage.

Opening hours

Monday - Friday: 9am - 5pm
Wednesday: 9:30am to 5pm
excluding bank holidays

Postal Address

Precise Mortgages,
2 Charter Court, PO Box 6037,
Wolverhampton, WV1 9QW.

Intermediary support

0800 116 4385

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About Precise

For intermediary use only
BBR 5.25%