This is to help customers achieve flexibility around product choice and loan size, it said.
The lender is accepting top slicing on all eligible personal ownership, limited company, portfolio, house in multiple occupation (HMO), as well as holiday and student let applications. First-time buyers are excluded.
Customers will be able to use surplus portfolio or earned income to demonstrate that they could meet any financial stresses on their new property application, rather than through the rental income of that property alone.
Borrowers may now be able to afford and so access its range of two-year fixed rate BTL mortgages, in addition to its five-year fixed rate products, to give customers access to a wider range of products which may previously not have been achievable.
Precise Mortgages has also cut the number of questions brokers have to provide answers for and enhanced its online BTL calculator.
Alan Cleary, managing director of Precise Mortgages (pictured), said: “By making our top slicing feature available across our entire buy to let range it creates greater access to our two-year fixed rate products, therefore opening up options to more customers, particularly those who might have been restricted by ICR requirements in the past.”
