Precise mortgages acceptance rate is a specialist lender that provides residential and buy to let mortgage solutions and bridging finance for those who don’t fit standard mainstream criteria. Their products are available solely through a nationwide network of intermediaries.

The lender offers a range of adverse credit mortgages and bridging finance and specialises in helping those with poor credit history to release the equity tied up in their residential properties. This includes those with county court judgements, defaults and discharged bankruptcies. They also have a range of mortgages specifically for new build homes and those who are self-employed.

Precise has a reputation for being able to offer a mortgage when other lenders have turned them down. One of the reasons for this is that they can be more flexible when it comes to their assessment of an applicant’s affordability and income levels.

Getting Approved with Confidence: Understanding Precise Mortgages’ Acceptance Criteria

In the past, they could lend up to 80% of a property’s value (loan-to-value), which is higher than the standard 75% LTV cap that applies to most other lenders. This was before the Chancellor’s Budget sent interest rates sky high and essentially closed the door on remortgages for those whose rent to mortgage payment ratio did not pass the new Mortgage Lenders’ rules.

However, there are still many Landlords with a Precise mortgage who cannot make the numbers work to remortgage so remain effectively ‘mortgage prisoners’. If you’re a Precise customer and want to move to a different rate, it’s best to speak to a mortgage advisor who can review the whole market for you and handle the product transfer on your behalf.