Last month, the lender also launched limited company products as well as improving its criteria for buy-to-let landlords in retirement.
Mortgage brokers can submit HMO and limited company buy-to-let cases through authorised packagers, as well as direct to lender.
Alan Cleary, managing director of Precise Mortgages, said: “In order to meet ongoing market demand, we are continuing to expand both our product range and lending criteria. Both professional and retired landlords will increasingly need specialist products as taxation plays a bigger role in their overall investment decisions.”
Doug Hall, director of 3mc said: “It’s great to see a major specialist lender enter the HMO space. Precise Mortgages has launched into more new product areas so far this year than most lenders will do in an entire year. More choice and more competition equal good news for brokers and their customers.
In January, Charter Court Bank, the parent company of Precise Mortgages and Exact was offered out to investors priced at £500m.
New York-based Private Equity firm Elliott Associates owns 75% of the business and Mortgage Solutions understands that if a credible buyer is not found, the firm could be refinanced. The process is likely to complete by the summer with Deloitte running the auction.
