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 Buy to Let 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
  • 2 and 5 year fixed rate products

What you need to know:

Limited Companies

  • Rental cover - Assessment rate:
    • Higher of pay rate + 2%, or revert rate (minimum 5.50%) for shorter term fixed and tracker products.
    • Pay rate for 5 year + fixed rates (additional underwriting may be required).
  • Loan size: up to £3m to 60% LTV, £1m to 70% LTV, £750k to 75% LTV, £500k to 80% LTV (product restrictions may apply).
  • Portfolio: up to 20 properties (LTV limits apply) to a total value of £10m with Precise Mortgages, unlimited with other lenders
  • 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 considered

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
  • Loan size: up to £1m to 70% LTV, £750k to 75% LTV, £500k to 80% LTV (product restrictions may apply).
  • Minimum valuation: £250k in London, £100k elsewhere.
  • Portfolio: up to 20 properties (LTV limits apply) to a total value of £10m with Precise Mortgages, unlimited with other lenders
  • Rental cover - ICR: Bespoke ICRs based on individual circumstances to help you to maximise the loan size
  • Rental cover - Assessment rate:
    • Higher of pay rate + 2%, or revert rate (minimum 5.50%) for shorter term fixed and tracker products.
    • Pay rate for 5 year + fixed rates (additional underwriting may be required).

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.

Buy to Let Mortgages

Contact us

Document downloads

Portfolio documentation


All applications

In these difficult times we won’t be publishing SLAs but we will be working on applications and documents as quickly as we can.

As soon as we start to see processes stabilise we will publish SLAs.

We expect to be able to process all applications and documents within 72 hours but valuations may take a little longer.

Download our Residential or Buy to Let Mortgages submission guides to help provide a smooth application process for you and your customer.

For intermediary use only
BBR 0.10%