Buy to Let - Portfolio Landlord

Overview

Here at Precise Mortgages we’re keeping our portfolio process simple to save you time. Our dedicated Portfolio Team will key the additional information the new underwriting rules call for on to our system for you.

You can use our simple forms, the landlord’s forms, or even another lender’s forms to provide details of:

Making it easier

Improved! We have reviewed our portfolio process and reduced the number of Portfolio landlord forms we need from three to two, making it even easier to submit portfolio applications to us. Our forms are designed to give us all the information we need but we can accept this information in any format.

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

  • No changes to our DIP or application system
  • Our Portfolio Team inputs the existing property portfolio details for you. Any missing information is followed up with a phone call
  • The portfolio assessment is valid for 12 months to make subsequent applications easier (where information is still up to date)
  • Our online Portfolio calculator provides an indicative assessment against our lending criteria before you submit an application

Our criteria hasn’t changed:

  • Up to 20 buy to let mortgages to a combined value of £10m with Precise Mortgages
  • No limit on size of existing portfolio
  • Licensed and unlicensed HMOs accepted up to 8 bedrooms with separate ASTs
  • No limit on the number of director dependant shareholders under the age of 21 for Limited Company applications
  • Bespoke ICR calculations on new applications to reflect the landlord’s tax position

NEW – Top slicing now available across our entire Buy to Let product range

Our newest initiative is the extension and automation of top slicing, which is available for limited company, personal tax structures and portfolio landlords.

Top slicing allows landlord to:

  • Unlock access to 2 year fixed products
  • Choose from a wider choice of products
  • Achieve greater flexibility around loan size
  • Optimise their investment opportunity
  • Demonstrate that they can meet financial stresses using surplus earned or portfolio income

To find out more click here to view our online criteria guide or download our Guide to Top Slicing.

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.

For intermediary use only
BBR 0.75%