Tag: Precise Mortgages
Complete FS, specialist lending packager and distributor, will host Precise Mortgages as its main sponsor for its Silver Jubilee Expo on the 6 September.
Gareth Lewis has left Precise Mortgages, where he was director of bridging, to become commercial director at short-term finance lender, mtf.
Research for Precise Mortgages has found average rental yields for HMO are the highest across all types of property at 7.1%, 1.3% above the market average.
The products are a 1-year fix at 5.3% and a lifetime tracker at 4.4% above the Bank base rate, both to 75% loan-to-value.
What is more Cleary predicted a number of other specialist lenders following suit to ensure they remain profitable.
Lewis was director of bridging at Precise having joined in October 2011.
OMS, which is currently available through specialist packagers AToM and Complete FS, offers mortgage brokers a processing platform from enquiry to completion.
The additional income can be used to effectively ‘bridge the gap’ if they aren’t expected to get the rent required to take out the mortgage they want.
The product is for landlords with up to 20 properties with a combined value of £5m with Precise, however there no limit on the size of portfolios with other lenders.