Precise Mortgages is pulling its existing buy-to-let and residential mortgage range from 8pm this evening, 4 July.

The lender will introduce new products to the market from 9am tomorrow.

In a note to brokers, Precise said all minimum supporting documents for existing applications must be submitted by 5pm this Thursday, 6 July.

For non-portfolio BTL applications, this includes the signed direct debit mandate and any additional documents required as part of the initial underwrite.

For portfolio landlords, these documents include:

• Signed direct debit mandate.
• Existing property portfolio form uploaded to the BTL Hub.
• Combined business plan, cash flow, and assets and liabilities form, along with latest months’ bank statement evidencing rent and mortgage payments.
• As part of the initial underwrite we may require additional documentation.

For residentialapplications the documents needed by 5pm Thursday include:

• Signed direct debit mandate.
• Latest year’s accounts/tax calculation accompanied with corresponding
  tax year overview (self employed).
• 1 month from the latest 2 months’ payslips (net pay must be consistent
  with bank statement) (employed).
• The latest 3 calendar months’ personal bank statements showing
  income and expenditure.
• As part of the initial underwrite we may require additional documentation

Full details of the lender’s document submission requirements can be found in its ‘right first-time submission guide’.

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