21 November 2016
As you will be aware, the PRA is introducing changes to the way regulated lenders underwrite buy to let applications on 1 January 2017.
As a result of this regulation, Precise Mortgage underwriting approach will be changing.
In order to secure cases using their current criteria - rental cover calculated at 125% of the interest only payment of the loan based on the higher of the pay or revert rate - you need to do the following:
More details to follow.