Precise Mortgages is always looking for new ways to help landlords. Our newest initiative is the extension and automation of top slicing across the entire Buy to Let product range.
Top slicing allows landlords 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 qualify, rental income must meet a minimum of 110% of the pay rate of the chosen product to ensure this is a viable property. Surplus income can then be used to demonstrate the ability to meet a shortfall against the standard ICR. – Not available for First Time Buyers.
What’s more we’ve streamlined and enhanced the buy to let mortgage system. – Click here to find out more.
Our calculator has also been updated to help you to understand your customers options. – Click here to go to the calculator.
