Precise Mortgages
Precise Mortgages | Specialist Residential & Bridging Advice
Precise Mortgages is a specialist mortgage lender focused on residential mortgages and bridging finance for customers whose circumstances may not fit standard high-street lending criteria.
At Kerr & Watson, we may consider Precise where an application involves self-employment, only one year’s trading history, previous adverse credit, a Debt Management Plan, complex income, higher borrowing requirements, debt consolidation or circumstances requiring a more specialist affordability assessment.
Precise also has a substantial bridging-finance proposition covering residential purchases, chain breaks, auction purchases, light and heavy refurbishment, property conversions and developer exits.
Precise no longer accepts new buy-to-let mortgage applications. New BTL lending within OSB Group is now provided through Rely Mortgages, while existing Precise BTL customers continue to be supported.
Could Precise be the right mortgage lender for you?
Precise can be particularly relevant where your income, credit history or borrowing requirements do not fit neatly within standard mortgage criteria.
At Kerr & Watson, we compare Precise with mainstream and other specialist lenders to establish which mortgage and lending criteria are most appropriate for your circumstances.
Precise Mortgages at a glance
| Precise Mortgages | |
|---|---|
| Residential mortgages | Yes |
| First-time buyers | Yes |
| Home movers | Yes |
| Remortgages | Yes |
| Maximum standard residential LTV | Up to 95% net lending, subject to product and criteria |
| Fees added above product LTV | Gross borrowing can reach 97% in qualifying cases |
| Maximum residential loan | Up to £5m subject to LTV |
| Maximum mortgage term | 40 years |
| Minimum primary applicant income | £10,000 under current standard criteria |
| Affordability | Up to 6x income in qualifying circumstances |
| Self-employed applicants | Yes |
| One year’s trading | Yes |
| Changes in trading style | Can be considered |
| Sole traders | Yes |
| Partnerships | Yes |
| Limited company directors | Yes |
| CIS workers | Yes |
| Previous adverse credit | A core area |
| Defaults / CCJs | Recent events can be considered subject to tier |
| Secured arrears | Can be considered |
| Debt Management Plans | Active and historic DMPs can be considered subject to product |
| Debt consolidation | Up to 90% LTV subject to criteria |
| Interest-only | Up to 75% LTV |
| Part and part | Yes |
| New-build residential | Up to 90% LTV |
| Bridging finance | Yes |
| Regulated bridging | Yes |
| Non-regulated bridging | Yes |
| Light refurbishment | Yes |
| Heavy refurbishment | Yes |
| Developer exit | Yes |
| New buy-to-let business | No – new BTL applications now go to Rely |
| Product transfers | Yes for eligible existing customers |
Mortgage products, affordability calculations and lending criteria can change, so we check Precise’s current requirements before recommending an application.
Who are Precise Mortgages?
Precise Mortgages is part of OSB Group and has operated as a specialist lender since 2010.
The lender is designed primarily for customers who may be underserved by mainstream mortgage providers.
Its current new-business proposition focuses on:
- Specialist residential mortgages.
- Bridging finance.
Precise previously had a substantial buy-to-let proposition, but OSB Group consolidated new BTL lending under its dedicated Rely Mortgages brand during 2025.
This means the current Precise proposition is much more clearly focused on borrowers rather than landlords.
Precise and Rely Mortgages
It is important not to confuse the two OSB Group brands.
Precise Mortgages
Current new business includes:
- Residential mortgages.
- Regulated bridging.
- Unregulated bridging.
- Refurbishment bridging.
- Developer exit.
Rely Mortgages
Current new business focuses on:
- Buy-to-let.
- Limited companies.
- Portfolio landlords.
- HMOs.
- Specialist landlord lending.
If you already have a Precise buy-to-let mortgage, it remains a Precise mortgage.
Existing customers continue to receive support and can access qualifying product-switch options.
When might we consider Precise?
We may consider Precise where the circumstances involve:
- Previous defaults or CCJs.
- Historic mortgage arrears.
- An active or historic Debt Management Plan.
- Self-employment with only one year’s trading.
- A recent change from sole trader to limited company.
- A company director.
- CIS income.
- Complex or multiple income sources.
- A larger mortgage.
- Higher income multiples.
- Debt consolidation.
- Interest-only borrowing.
- A high-LTV purchase.
- A new-build property.
- A bridging requirement.
- Refurbishment.
- An auction purchase.
- A chain break.
- A property conversion.
- Development exit finance.
A specialist lender should normally be used because its criteria provide a genuine advantage rather than simply because the applicant technically qualifies.
Precise mortgages for self-employed applicants
Self-employed applicants are one of Precise’s strongest areas.
Precise can consider an applicant with only one year’s accounts or tax calculation.
This can be particularly useful where someone has established a viable business but does not yet have the two or three years’ trading history requested by some conventional lenders.
Precise considers:
- Sole traders.
- Partnerships.
- Limited company directors.
One year’s trading history
Your Mortgage Bible specifically records Precise as accepting one year’s trading with no previous self-employed history required.
This can make a substantial difference for someone who has recently:
- Started their own business.
- Become a consultant.
- Left employment to become self-employed.
- Established a new limited company.
- Entered a professional partnership.
The lender still needs to be satisfied that the business and income are sustainable.
One year’s figures therefore do not automatically guarantee acceptance.
What income evidence does Precise use?
For qualifying self-employed applicants, Precise can work from the latest available evidence.
Your Mortgage Bible records that this can include:
- HMRC tax calculation.
- Tax Year Overview.
- Trading-year-end accounts.
- Financial-year-end accounts.
The evidence required will depend on the applicant’s trading structure.
Changing from sole trader to limited company
Precise can also consider applicants who have changed their trading style during the previous 12 months.
For example:
Sole trader → Limited company
does not automatically mean the applicant must wait another full year before obtaining a mortgage.
The lender will normally want to see that:
- The underlying business is substantially the same.
- The applicant remains involved.
- There has been continuity of income.
- The change was a restructure rather than a completely new business.
This can be particularly useful for established self-employed customers who have recently incorporated.
Limited company directors
Precise accepts limited company directors within its residential proposition.
The lender will assess the company and applicant according to the available accounts, tax information and remuneration structure.
This can be relevant where a director’s financial circumstances are not represented adequately by straightforward PAYE salary alone.
We would normally compare Precise with lenders using:
- Salary and dividends.
- Salary and net profit.
- Latest-year income.
- Averaged income.
to establish which methodology produces the most appropriate result.
Precise mortgages for CIS workers
Precise can also consider Construction Industry Scheme workers.
Your Mortgage Bible records that Precise can use CIS payslip income rather than automatically requiring a self-employed accounts assessment.
This can be helpful where a tradesperson works under CIS but receives regular gross payments from contractors.
The lender’s calculation will take account of relevant deductions and evidence.
Precise affordability
Precise has strengthened its residential affordability proposition significantly.
Its current residential range can allow borrowing of up to six times income in qualifying circumstances.
This is not a standard entitlement for every borrower.
The amount available depends on factors including:
- Income.
- Deposit.
- Credit profile.
- Mortgage term.
- Financial commitments.
- Household expenditure.
- Product selected.
We therefore run the applicant’s actual circumstances through Precise’s current affordability model before relying on a particular income multiple.
Large residential mortgages
Precise now accommodates significantly larger residential mortgage amounts than many people associate with a specialist credit lender.
Current published limits include:
- Up to £2 million at 95% LTV.
- Up to £3 million at 90% LTV.
- Up to £5 million at 85% LTV.
Lower loan-to-value borrowing can therefore reach £5 million.
This can make Precise relevant where a customer combines:
High borrowing + complex income or specialist credit circumstances
rather than requiring a private bank solely because the mortgage is large.
95% LTV mortgages with Precise
Precise can currently offer qualifying residential mortgages up to 95% loan-to-value.
This means a customer could potentially purchase with a 5% deposit.
Precise also permits product fees to be added above the product’s net LTV in qualifying circumstances, producing a maximum gross LTV of up to 97%.
This distinction is important.
It does not mean Precise provides a conventional 97% purchase mortgage.
The underlying mortgage itself remains subject to the applicable product LTV, with the additional amount representing eligible fees added to the loan.
First-time buyers
Precise accepts first-time buyers.
Its specialist proposition can be particularly useful where a first-time buyer combines a relatively small deposit with another issue such as:
- Previous adverse credit.
- Self-employment.
- Limited trading history.
- Complex affordability.
- Larger borrowing requirement.
A specialist lender can carry higher interest rates or fees than a mainstream lender, so we first establish whether high-street options remain available.
Precise and adverse credit
Adverse credit is another central part of Precise’s residential proposition.
Precise can consider applicants with histories including:
- Defaults.
- County Court Judgments.
- Mortgage arrears.
- Secured-loan arrears.
- Debt Management Plans.
The available product depends on how recent and significant the adverse credit is.
Recent defaults
Precise’s current published criteria can accommodate multiple defaults within the previous 24 months under its specialist adverse-credit ranges.
Current headline criteria permit up to five qualifying defaults within 24 months, subject to the complete application and internal credit assessment.
This is considerably more flexible than most conventional high-street mortgage lenders.
Recent CCJs
Precise can also consider several County Court Judgments.
Current headline criteria permit up to three qualifying CCJs within the previous 24 months under appropriate specialist ranges.
Again, this is not a blanket acceptance rule.
The underwriter will still consider:
- Value.
- Dates.
- Number.
- Explanation.
- Conduct since.
- Wider credit profile.
Mortgage and secured-loan arrears
Precise can consider some recent secured-credit arrears.
Current headline criteria can permit up to three secured arrears within 36 months, including one within the previous 12 months, subject to product and underwriting.
Recent missed secured payments are normally treated more seriously than an isolated historic communications default because they indicate conduct on borrowing secured against property.
Debt Management Plans
Precise can consider customers with:
- Active Debt Management Plans.
- Recently satisfied DMPs.
- Older satisfied DMPs.
The product and maximum LTV vary depending on when the DMP was satisfied and the wider credit profile.
Your Mortgage Bible records a maximum of 85% LTV where a DMP is active or has been satisfied within the previous 36 months.
Where a DMP has been satisfied for more than 36 months, Precise’s current published proposition can potentially allow lending up to 95% LTV, subject to the remaining criteria.
Why we review the complete credit report
Two applicants can both say they have “bad credit” but have completely different mortgage options.
We therefore look at:
- What type of credit issue occurred.
- Registration date.
- Current balance.
- Whether it was satisfied.
- Mortgage-payment history.
- Number of separate events.
- Reason for the problem.
- Conduct since.
This allows us to determine which Precise credit tier, if any, is appropriate.
Debt consolidation mortgages
Precise can consider debt consolidation on a residential remortgage.
Current criteria allow debt-consolidation remortgages up to 90% loan-to-value.
Your Mortgage Bible also records that Precise does not impose a conventional debt-to-income ratio specifically for debt consolidation and can exclude qualifying commitments being repaid when assessing the future position.
The exact debts and affordability still need to be assessed.
Should you consolidate debt into a mortgage?
Debt consolidation can reduce monthly payments, particularly where expensive unsecured borrowing is replaced with lower-rate mortgage debt.
However, this does not automatically make it cheaper overall.
You could:
- Repay the debt over a much longer period.
- Pay more total interest.
- Convert unsecured borrowing into debt secured against your home.
We therefore look at both the monthly saving and longer-term cost before making a recommendation.
Precise interest-only mortgages
Its current residential range permits pure interest-only borrowing up to 75% LTV, subject to an acceptable repayment strategy.
Current interest-only lending extends to £1 million.
Precise does not currently impose a separate minimum-equity requirement alongside its normal LTV rules.
Part-and-part mortgages
Precise also allows part-and-part borrowing.
This means one portion of the mortgage is:
- Capital repayment.
while another portion remains:
- Interest-only.
The interest-only part cannot currently exceed 50% LTV.
The overall mortgage can reach the lender’s applicable part-and-part maximum LTV.
This can help borrowers balance monthly payments against gradually reducing part of the mortgage balance.
New-build mortgages
Precise accepts qualifying new-build houses and flats.
Current residential criteria allow both purchase and remortgage of new-build property up to 90% LTV.
Where the deposit includes a builder’s incentive, the maximum LTV is currently lower.
New-build lending remains subject to requirements around:
- Warranty.
- Valuation.
- Incentives.
- Lease.
- Marketability.
Studio flats
Precise can consider studio flats.
Current published residential criteria limit studio-flat purchases and remortgages to 70% LTV.
This is a useful example of why the maximum headline residential LTV does not apply to every property type.
Precise bridging finance
Bridging finance is now one of Precise’s two main new-business specialisms.
Precise provides both:
- Regulated bridging finance.
- Non-regulated bridging finance.
Its range covers standard property purchases as well as refurbishment and development-exit scenarios.
What can Precise bridging finance be used for?
Potential uses include:
- Breaking a property chain.
- Auction purchases.
- Purchasing before another property sells.
- Short completion deadlines.
- Short-term capital raising.
- Property refurbishment.
- HMO conversion.
- Residential conversions.
- Development exit.
- Refinancing existing short-term finance.
The proposed exit strategy is fundamental.
A bridging lender needs a credible route for repaying the loan at the end of the term.
Precise regulated bridging loans
A bridge will normally be regulated where it is secured against a property occupied, or intended to be occupied, by the borrower or certain family members and falls within regulated mortgage rules.
Precise offers regulated bridging loans.
Current terms can run for up to 12 months.
Regulated bridging must be arranged on an advised basis.
This can be useful for situations such as a residential chain break where the customer needs to buy their next home before selling their current one.
Precise non-regulated bridging loans
Precise also offers non-regulated bridging.
These transactions commonly involve investment or business property rather than a customer’s home.
Current non-regulated terms can extend to 18 months.
Limited companies can be considered for non-regulated bridging.
Precise standard bridging
Standard bridging is designed for property that does not require improvement works.
Current criteria include:
- Minimum loan £50,000.
- No stated maximum loan.
- Up to 75% LTV on qualifying loans up to £2.5 million.
- Maximum 65% LTV above £2.5 million.
Examples could include:
- Auction purchase.
- Chain break.
- Short-term refinance.
- Capital raising.
- Quick investment purchase.
The property must provide acceptable security in its existing condition.
Precise light refurbishment bridging
Precise has a dedicated light-refurbishment proposition.
This can be used where the property requires improvement but the project does not involve extensive structural redevelopment.
Examples can include:
- New kitchen.
- New bathroom.
- Redecoration.
- Some extensions.
- HMO conversion.
- Completing certain multi-unit properties.
Precise can currently lend up to 75% LTV on qualifying light-refurbishment cases.
Funding the refurbishment works
A useful feature of the Precise proposition is the ability to fund up to 100% of qualifying refurbishment costs, subject to the overall loan-to-value and underwriting.
Funds can also be released through staged drawdowns.
This can reduce the amount of cash the borrower needs to commit to the works personally.
Precise heavy refurbishment bridging
Precise also provides heavy-refurbishment finance where the project involves more substantial structural alteration.
Current maximum lending is generally up to 70% LTV for loans up to £2.5 million.
Examples include:
- Major extensions.
- Loft conversions.
- Structural alteration.
- Converting a single dwelling into several units.
- Combining several units into one property.
- Barn conversions.
- Commercial-to-residential conversions.
- Larger HMO conversion projects.
Commercial-to-residential conversions
Precise can currently fund the conversion of commercial property into up to 10 residential units, subject to planning being in place and the full bridging criteria.
This could include converting appropriate commercial premises into flats.
Planning, build costs, professional experience and the exit strategy all become particularly important.
HMO conversions
Precise’s bridging proposition can finance conversion of a residential property into an HMO.
Current criteria can accommodate HMO conversions of up to 20 lettable rooms, subject to the customer’s experience, proposed works and exit strategy.
This is considerably more specialist than its residential mortgage proposition.
The completed property would normally need an appropriate long-term refinance or sale strategy.
Multiple properties on one title
Precise bridging can also consider assets containing:
- Annexes.
- Multiple properties on one title.
A more detailed valuation may be required depending on the configuration.
This can make Precise useful where the security cannot be assessed as one straightforward conventional house.
Precise second-charge bridging
Precise can also consider second-charge bridging.
A second-charge bridge sits behind an existing first mortgage rather than replacing it.
This can be useful where someone needs short-term funds but does not want to redeem an advantageous existing first-charge mortgage.
Both the first charge and proposed bridge need to work within the lender’s security requirements.
Developer exit finance
Precise offers a specialist developer-exit proposition.
Developer exit finance can be used where a development has reached practical completion but the developer needs additional time to sell or refinance the completed units.
This can help:
- Repay more expensive development finance.
- Release capital.
- Create additional time for unit sales.
- Refinance a development that has overrun its original facility.
Precise developer exit LTV
Current criteria distinguish between smaller and larger developments.
For developments of one to six units, Precise can currently consider up to 75% LTV, subject to unit values.
For developments containing seven or more units, the standard maximum is lower.
The development needs to have reached practical completion and have the necessary consents and warranty or Professional Consultant’s Certificate.
Developer experience is required.
Precise and re-bridging
Precise can consider some applications where the customer is already using bridging finance and needs another short-term facility.
This is commonly known as re-bridging.
The lender will want to understand why the original bridge has not been repaid and whether the proposed new exit strategy is realistic.
Current maximum LTVs are lower for some re-bridging scenarios.
This should therefore be treated as a specialist referral rather than an ordinary refinance.
Bridging exit strategies
Precise can consider several potential repayment strategies.
These can include:
- Sale of the security property.
- Long-term residential refinance.
- Buy-to-let refinance through another suitable lender.
- Sale of another property.
- Refinance of another asset.
Your Mortgage Bible records that Precise can consider an exit involving the sale or refinance of another property even where Precise does not hold security over that property, provided the exit can be appropriately validated.
Bridging valuations and AVMs
Precise has expanded its use of Automated Valuation Models for bridging.
Qualifying standard and light-refurbishment properties can potentially use an AVM at up to 75% LTV.
This can reduce the need for a physical valuation on straightforward cases.
AVMs are not appropriate for every property.
Specialist security such as:
- HMOs.
- Multi-Unit Blocks.
- Flats.
- Certain new builds.
normally requires a different valuation approach.
Existing Precise buy-to-let customers
Precise no longer accepts new BTL applications.
The change took effect from 21 November 2025, when new OSB Group BTL lending moved to Rely Mortgages.
Existing Precise BTL customers remain supported.
Their existing:
- Mortgage.
- Rate.
- Terms and conditions.
did not automatically change as a result of the new brand structure.
Can an existing Precise BTL customer stay with Precise?
Yes.
Existing qualifying Precise BTL customers can still access options relating to their current mortgage.
Precise currently confirms that existing BTL borrowers can be offered qualifying retention or remortgage options within Precise.
However, a landlord wanting completely new borrowing or a new property purchase would now generally be assessed through Rely or another appropriate BTL lender.
Precise product transfers
Precise also offers product transfers to eligible existing customers.
The lender normally provides personalised product-transfer options approximately three months before the existing mortgage product ends.
The customer must use a qualified mortgage broker to arrange the transfer.
This differs from lenders that allow customers to switch products directly online without advice.
Should you stay with Precise when your deal ends?
Not automatically.
If you currently have a Precise mortgage, we would normally compare:
- Precise’s product-transfer option.
- Remortgage alternatives.
- Current property value.
- Outstanding mortgage.
- Credit history.
- Current income.
- Future plans.
- Overall mortgage cost.
This is particularly relevant where Precise was originally selected because of adverse credit.
If your credit history has improved significantly since the original mortgage completed, mainstream mortgage options may now be available.
When might Precise not be the right lender?
Precise can solve many specialist residential and bridging scenarios, but another lender may be more appropriate where:
- Your circumstances comfortably fit cheaper mainstream criteria.
- You are looking for a new buy-to-let mortgage.
- Your income does not meet the lender’s affordability assessment.
- Recent adverse credit falls outside the relevant product tier.
- Your property falls outside Precise’s security requirements.
- You need an interest-only structure beyond its current criteria.
- Another specialist lender treats your credit profile more favourably.
- Another bridge provides a structure better suited to your project.
- Your proposed bridging exit cannot be clearly evidenced.
The objective should not be simply to find a lender that says yes.
It should be to identify the most appropriate overall mortgage for the circumstances.
What we check before recommending Precise
For residential mortgages, we may review:
- Employment.
- Self-employed history.
- Tax calculations.
- Company accounts.
- Trading structure.
- CIS income.
- Other income.
- Credit report.
- Defaults.
- CCJs.
- Secured arrears.
- Debt Management Plan.
- Existing debts.
- Deposit.
- Property.
- Required mortgage.
- Repayment method.
For bridging finance, we additionally consider:
- Property value.
- Purchase price.
- Required loan.
- Works.
- Schedule of works.
- Planning.
- Experience.
- Development costs.
- Additional security.
- Exit strategy.
- Required term.
- Whether the transaction is regulated or non-regulated.
This allows us to establish whether Precise genuinely fits before an application is submitted.
Do you have to use Precise Mortgages?
No.
Kerr & Watson is an independent, whole-of-market mortgage brokerage, so we can compare Precise with mainstream banks, building societies and other specialist lenders.
Precise can be particularly relevant where an application involves adverse credit, one year’s self-employment, complex affordability, a large loan, debt consolidation or bridging finance.
However, another lender may provide more suitable criteria, affordability or overall cost.
Our role is to identify which lender and mortgage provide the most appropriate overall solution for your circumstances.
Speak to a mortgage adviser about Precise Mortgages
If you are considering Precise for a specialist residential mortgage or bridging loan, we can review your circumstances before an application is submitted.
We can assess your income, credit history, property and borrowing requirements before comparing Precise with other suitable lenders.
For bridging finance, we can also review the proposed works, loan structure and exit strategy before approaching the lender.
Lender criteria, affordability calculations, product availability and lending terms can change. The information on this page is intended as a general guide and should not be relied upon as confirmation that a lender will accept a particular application or that a particular mortgage or finance product will be suitable for you.
The information on this page does not constitute personalised mortgage advice or a recommendation. The regulatory status of a mortgage or loan depends on the type of transaction and your circumstances. Many buy-to-let and commercial mortgages, and some bridging loans, are not regulated by the Financial Conduct Authority. Your home or other property may be repossessed if you do not keep up repayments on a mortgage or other loan secured against it.
Your Mortgage In 3 Easy Steps…
Conversation
Schedule a call to speak to a mortgage adviser about your circumstances, borrowing requirements and property plans.
Alternatively give us a call on 01252 224620 or email us on info@kerrandwatson.co.uk.
Research
We will use the information you’ve provided to research suitable mortgage options across the market and explain our recommendation to you.
If you need an Agreement in Principle, we can also arrange this as part of the process.
Application
Once you’re ready to proceed, we will submit the full mortgage application and supporting documents to the lender.
We will liaise with the lender and its underwriters, respond to any additional requirements and keep you updated until the mortgage offer is issued and through to completion.
Featured In
Testimonials
Awards & Recognition
Contact Us
Free initial conversation. No obligation.
Not ready to apply yet? That’s fine — we can start with a quick conversation about your options.
We aim to respond within a few hours during working days.
By submitting this form you agree that Kerr & Watson may contact you regarding your enquiry.
Your information will be handled in accordance with our Privacy Policy.