Precise Mortgage

Unwrap three gifts which could speed up your applications

We’re always thinking of new ways we can enhance our service and these changes are designed to speed things up by cutting down on the amount of paperwork you need to send to us. It’s just one of the reasons why we’ve been awarded a five star rating for mortgages at the Financial Adviser Service Awards.

Reduced evidence for portfolio landlords

We’ve reduced the number of bank statements we need to see to evidence cash flow. Instead of the last three months, we now only need your customer’s latest month’s bank statement. We’ve also included cash flow information on our redesigned Business Plan, Cash Flow and Assets and Liabilities form to make it simpler to provide us with this information in one go. What’s more, the new form is suitable for both buy to let and bridging finance applications.

Reduced evidence for new build extension offers

We’ve reduced the number of pay slips or bank statements we need to see when considering new build three month extension requests once the initial six month offer/valuation validity period comes to an end. We’ll still need to carry out new credit searches, a valuation re-inspection and a refresh of the validation documentation, but we’ll now only need to see the latest month’s payslip for employed applicants or the latest month’s bank statement for self-employed applicants. This applies to both residential and buy to let customers.

Reduced evidence for local authority/housing association tenants

We no longer need to see evidence of Rental Conduct via a reference. Instead, we’ll validate the latest rental payments using the latest three months of bank statements. This applies to residential and buy to let mortgages, as well as bridging finance applications.

Don’t forget, if you need to double-check the documentation to send to us, our ‘right first time’ residential, new build and buy to let checklists tell you everything you need to know before you submit your cases.