Precise Mortgages Update: Higher Income Multiples & Up to 95% LTV for Flexible Home Improvement Remortgages

New Opportunities for Homeowners with Precise Mortgages

Precise Mortgages, an established specialist UK mortgage lender, has announced policy updates designed to support homeowners looking to improve rather than move. The latest changes open up remortgage options for home extensions and improvements, even if applicants have recent credit issues or a need for higher borrowing. This update is significant for those seeking to fund renovations, adapt their property for changing needs, or simply maximise space without stepping up the housing ladder.

Mortgage Product Updates: Higher Borrowing & Accessible Criteria

• Up to 6x income multiplier: Borrow more by using up to six times your gross annual income—significantly higher than typical mainstream products.
• Up to 95% Loan to Value (LTV): Secure funding with just 5% equity required, making high-LTV borrowing possible for home improvements.
• No profession restrictions: All employment types, including self-employed, contractors, and non-traditional roles, are welcomed without stricter guidelines.

These products are particularly competitive for applicants who need both a high LTV and a generous income calculation. It makes Precise a stand-out choice for complex cases overlooked by high street banks.

Criteria and Policy Changes: Flexible Solutions for Challenging Scenarios

The expanded lending criteria are designed with real-world situations in mind. Borrowers with recent credit blips can still be considered—ideal if you’ve experienced late payments or minor defaults.

• Credit flexibility: Recent adverse credit is not an instant decline, broadening access for those with imperfect histories.
• Scenario-based approvals: Homeowners wishing to remortgage to fund home extensions—such as adding space for a growing family or a parent moving in—now have practical options, even at high LTV and with past credit concerns.

Special Features and Promotions: Real-Life Case Example

A recent case highlights the benefits: Mandy and Robert wanted to remortgage for a home extension to accommodate a parent, but had high LTV needs and recent minor credit issues. Most lenders declined, but Precise Mortgages was able to help, thanks to:

• 6x income multipliers for higher loan amounts
• 95% LTV for minimal deposit requirements
• Inclusive lending for borrowers with non-standard professions
• Understanding of recent credit blips

If you’re in a similar position—needing flexibility to remortgage and upgrade your home—these new policies are designed with your circumstances in mind.

Why Choose Precise Mortgages?

• Specialist Lending Expertise: Broad criteria support complex borrower profiles, such as high LTV, credit issues, or self-employment.
• Flexible Underwriting: Each case is assessed individually, increasing approval chances for non-mainstream scenarios.
• No Employment Restrictions: Open to all professions, making it easier for those outside “standard” roles to secure funding.
• Home Improvement Focus: Specifically designed to help homeowners create more space and adapt their homes for the future.

Conclusion

If you’re considering a remortgage to fund home improvements, or face challenges such as high LTV or recent credit issues, Precise Mortgages offers a solution worth exploring. Contact our expert mortgage advisers today for tailored advice on eligibility, product options, and unlocking your property’s potential.

FAQs: Precise Mortgages Policy & Product Updates

• Who qualifies for Precise Mortgages’ high LTV remortgage products?Applicants must have sufficient income (up to 6x income used) and a deposit/equity of at least 5%. Recent minor credit issues are considered.
• How do these lending criteria affect my borrowing amount?You may be able to borrow more than with standard lenders due to the higher income multiplier of up to 6x salary.
• Is Precise suitable for home improvement or extension?Yes, these products were created to help fund home improvements or extensions—even in complex scenarios.
• Can first-time buyers or buy-to-let landlords apply?This update specifically applies to residential remortgages; consult us for buy-to-let or first-time buyer options.
• How do I check eligibility or start an application?Speak to our expert mortgage team to review your individual case, discuss eligibility, and begin your remortgage application.