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Precise: Buy-to-let available to age 110

Sarah Davidson

January 19, 2016

Landlords investing in buy-to-let to boost their retirement incomes will be able to borrow up to the age of 110 following the launch of more flexible criteria from Precise Mortgages tomorrow.

The specialist lender will refresh its entire buy-to-let range from 20 January and has revealed it is also launching a new range of buy-to-let mortgages for experienced landlords investing in houses in multiple occupation.

The maximum age at application on the entire range of buy-to-let products will be 80 while the maximum term will be 30 years.

Alan Cleary, managing director of Precise Mortgages, said: “Forcing a customer to sell a buy to let property just because they reach 75 is not a good thing, they may be reliant on it for income or it may just be a bad time to sell.

“Our change to policy means that customers can choose whether to hold onto their buy-to-let if it suits them irrespective of their age.”

Criteria on the HMO deals will restrict eligible borrowers to landlords who have held at least two buy-to-let properties (single dwelling or HMO) for at least 24 months.

Properties can be up to six bedrooms while deals will be available up to £1m up to 80% loan-to-value with a maximum loan of £500,000.

Borrowers can have unlimited properties with other lenders and up to 10 to a maximum of £5m with Precise Mortgages.

Properties will be valued as a single dwelling but multi-occupancy rental income will be used to assess the loan.

Cleary added: “We are making our entire range of buy-to-let deals more flexible because we believe borrowers and landlords should be able to invest their money the way they choose.

“This goes for those choosing to invest in higher yield HMOs where products are too limited at the moment.”


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