Precise Mortgages is pulling its existing buy-to-let and residential mortgage range from 8pm this evening, 4 July.
The lender will introduce new products to the market from 9am tomorrow.
In a note to brokers, Precise said all minimum supporting documents for existing applications must be submitted by 5pm this Thursday, 6 July.
For non-portfolio BTL applications, this includes the signed direct debit mandate and any additional documents required as part of the initial underwrite.
For portfolio landlords, these documents include:
- Signed direct debit mandate.
- Existing property portfolio form uploaded to the BTL Hub.
- Combined business plan, cash flow, and assets and liabilities form, along with latest months’ bank statement evidencing rent and mortgage payments.
- As part of the initial underwrite we may require additional documentation.
For residentialapplications the documents needed by 5pm Thursday include:
- Signed direct debit mandate.
- Latest year’s accounts/tax calculation accompanied with corresponding
tax year overview (self employed). - 1 month from the latest 2 months’ payslips (net pay must be consistent
with bank statement) (employed). - The latest 3 calendar months’ personal bank statements showing
income and expenditure. - As part of the initial underwrite we may require additional documentation
Full details of the lender’s document submission requirements can be found in its ‘right first-time submission guide’.
