The specialist lender has published new documents and explained the process brokers will need to comply with after the PRA’s changes to portfolio landlords come into effect on 30th September.

Brokers will be required to submit a business plan, an assets and liabilities statement and details of their customer’s residential property portfolio.

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A dedicated portfolio team at Precise will mean that brokers will not have to key the additional information into the system.

“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,” said Alan Cleary, managing director of Precise Mortgages (pictured above). 

“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.”