Precise publishes portfolio proposition online

Precise publishes portfolio proposition online

Precise Mortgages has put its portfolio proposition online ready for the Prudential Regulation Authority’s (PRA) portfolio landlord changes on 30 September.

Once the changes are implemented, Precise Mortgages will require brokers to submit a business plan, an assets and liabilities statement, and details of their customer’s residential property portfolio.

Brokers will not however need to key the additional information into the system.

Alan Cleary (pictured), Precise’s managing director, said: “We’re giving brokers a head start by making our forms accessible more than a week before the PRA’s new underwriting standards for portfolio landlords come into force.

“It means brokers can start collecting their customer’s information in advance and be ready in plenty of time. Once the portfolio team has input the information into the system, it will remain valid for six months making future applications even more straightforward.”