The lender, which specialises in buy to let mortgages, short-term/bridging deals and residential mortgages and offers prime and near-prime products, is the 25th lender to join the panel. The mortgage club has gone from strength to strength in 2013 and has big aspirations in 2014, with membership and revenue targets set to double.
Members of the mortgage club will have access to products for buy to let, bridge to let homeowner and bridging.
Its buy to let prime criteria includes no defaults or CCJs and no missed mortgage/secured loan arrears in last 36 months, while one unsecured loan arrears in the last 12 months is acceptable.
Its near prime criteria includes no more than one default in last 24 months (max £1500), no more than one CCJ in last 24 months (max £1500) and no more than one missed mortgage/secured loan arrears in last 36 months. Unsecured loan arrears are not counted but may affect customer’s credit score.
For its bridge to let product there is no minimum income criteria and first time landlords are acceptable. The lenders offers up to 80% LTV including new build flats and houses.
Ying Tan, managing director of The Buy to Let Business, says:
“I am delighted that Precise has joined our panel. It is one of the most innovative lenders in the buy to let arena and I believe the team there share our vision for forward-thinking, creative lending. This is a great addition to our panel and gives our brokers even more choice.”
Alan Cleary, managing director of Precise Mortgages, says:
“The Buy to Let Business mortgage club is a leading distributor and we are very pleased to be added to the panel. We are confident that we will add value to brokers with our range of BTL products.”
All intermediaries wishing to register with The Buy to Let Business Mortgage Club can do so by either visiting www.thebuytoletbusiness.com/mortgage-club or by calling 01276 601041.
