Precise BTL Lending Criteria

gilly33

Looking to apply for a BTL with precise. My bank statements are healthy,my concern is I had 3 months out of employment to change jobs. The gap was to find a job I really liked and I could afford to at the time because I just sold my house. I'm still in the same industry and have been working for 5 months. I'm pretty sure I'm still on probation until 6 months but I know I'm staying. Would a letter help from my employer to confirm this and if put 30% down rather than 25% would this make a difference? Reason for choosing precise is that I have a CCJ £1,700 registered just over 2 years now although satisfied in Nov 2012.

_Andy_

What has your broker said?

gilly33

He's away at the moment

GMS

Was your broker made fully aware of your situation? Have they applied yet?

I would assume if they have and were told of the employment then they would have discussed with an underwriter prior to submission.

Gap in employment would be out of criteria as they want 12months continuous employment which you don't have.

gilly33

No I haven't applied yet but is that the same criteria with most lenders who are willing to overlook a CCJ? Are you saying I'm going to have to wait until March before I can apply?

GMS

I am not saying anything as I don't know your circumstances.

Your broker does so will be dealing with it accordingly. With anything outside of criteria you would assume it would be referred to underwriters and/or BDM.

amnblog

Is no-one covering for your broker whilst they are away?

Thrugelmir

gilly33 wrote: »

No I haven't applied yet but is that the same criteria with most lenders who are willing to overlook a CCJ?

You need to put into context how seriously a CCJ is viewed. Overlooking is not something any business will do with regards to a CCJ.

gilly33

That a really unhelpful response and not the answer to my question. If I wanted advise on the CCJ I would have posted in another feed.

kingstreet

Some lenders choose to accept a CCJ as long as it is satisfied, under a certain amount and a certain age, or older. Evidence may be required. Lenders do not overlook them, as Thrug has said.

The same goes for employment history. Some lenders want an unbroken period of employment, others don't.

The only person who is going to be able to give meaningful answers to your questions is the person you have chosen to represent you. They should have a locum for their absence, IMHO.