Precise Mortgages: Credit, Deposit and Income Criteria

Precise Mortgages is a specialist UK mortgage lender that considers residential mortgage applications from people with a range of financial circumstances, including previous credit difficulties, self-employment and non-standard income.

Its published lending criteria include consideration of certain defaults, County Court Judgments (CCJs), missed mortgage payments and debt management plans (DMPs). Precise also offers residential products with deposits starting from 5% for eligible applicants.

However, meeting a published criterion does not guarantee a mortgage. Precise uses internal credit scoring alongside affordability, income, property and underwriting assessments.

This guide explains Precise Mortgages’ published residential lending criteria, including credit history requirements, deposits, self-employed income and the circumstances that may affect an application.

Who Are Precise Mortgages?

Precise Mortgages is a specialist lender offering residential mortgages through qualified mortgage intermediaries.

Its products are designed to accommodate a range of circumstances that may not meet the standard lending requirements of some mainstream banks.

These can include:

• Applicants with defaults or CCJs.
• People with previous mortgage or secured-loan arrears.
• Applicants with active or completed debt management plans.
• Self-employed individuals with one year’s accounts.
• Contractors and applicants with non-standard employment arrangements.
• First-time buyers, home movers and remortgage customers.

Precise assesses applications against its current product criteria, internal credit scoring and affordability requirements.

Can You Get a Precise Mortgage With Bad Credit?

Precise publishes lending criteria for applicants with adverse credit histories. This means that some previous credit problems do not automatically prevent an application from being considered.

Its residential range includes criteria for defaults, CCJs, secured arrears and debt management plans.

However, the number and timing of credit events are important. Meeting the headline limits does not mean that an application will pass the lender’s credit scoring or other requirements.

Precise Mortgages Criteria for Defaults

Precise’s published residential criteria permit consideration of up to five defaults registered within the previous 24 months.

However, defaults recorded during the three months immediately before an application are not accepted.

Other relevant considerations include:

• The number of defaults recorded.
• When the defaults were registered.
• The outstanding or settled balances.
• Other recent payment problems.
• The applicant’s overall credit profile.

The lender’s individual products may have additional conditions, and acceptance remains subject to internal credit scoring.

Precise Mortgages Criteria for CCJs

County Court Judgments can make obtaining a mortgage more difficult, particularly when they are recent.

Precise’s published residential criteria allow consideration of up to three CCJs registered within the previous 24 months.

However, CCJs registered in the three months before an application are not accepted.

Whether a CCJ has been satisfied, its value, its age and the wider credit history may affect the available mortgage options.

A CCJ falling within the published numerical limit does not guarantee that an applicant will qualify.

What About Previous Mortgage Arrears?

Precise also publishes criteria for applicants who have experienced arrears on an existing or previous mortgage or other secured borrowing.

Its residential criteria refer to consideration of:

• Up to one secured arrears event in the previous 12 months.
• Up to three secured arrears events in the previous 36 months.

Secured arrears recorded during the three months immediately before an application are not accepted.

These are maximum published limits. The lender still assesses the severity and timing of arrears, the wider credit history and affordability.

Are Missed Credit Card or Loan Payments Accepted?

Precise distinguishes between secured borrowing, such as mortgages, and unsecured borrowing, such as credit cards and personal loans.

Its published residential information states that unsecured arrears are not counted towards the same numerical limits as secured arrears, but they may still affect internal credit scoring.

Consequently, a history of missed unsecured payments can still influence the outcome of an application.

Does Precise Accept Debt Management Plans?

Precise Mortgages publishes criteria for applicants with active or completed debt management plans (DMPs).

A DMP is an arrangement under which an individual makes agreed repayments towards debts, often through a debt management provider.

Mortgages With an Active DMP

Precise may consider an applicant with an active debt management plan, subject to the following published conditions:

• The DMP must have been operating for at least 12 months.
• There must have been no missed payments under the plan.
• The maximum advertised LTV for an active DMP is 85%.
• If the DMP continues after mortgage completion, the repayments are included in the affordability assessment.

An 85% LTV mortgage is equivalent to a 15% deposit on a property purchase, although the actual deposit requirement depends on the application and product.

Mortgages Following a Completed DMP

Precise also considers completed debt management plans.

Its published product information indicates that a DMP satisfied more than 36 months ago may be considered on products up to 95% LTV.

Where a DMP was satisfied more recently, additional product restrictions may apply, including a lower maximum LTV.

The lender’s current product guide should be checked for the applicable restrictions.

Scottish Debt Arrangement Schemes

Precise states that Scottish Debt Arrangement Schemes (DAS) are treated in the same way as debt management plans for its published mortgage criteria.

However, a DAS is a statutory debt arrangement with separate legal conditions. Anyone participating in an active arrangement should check its terms and obtain appropriate independent guidance before taking on additional financial commitments.

Free independent debt advice is available through MoneyHelper’s debt advice locator.

How Much Deposit Do You Need for a Precise Mortgage?

Precise advertises residential mortgages up to 95% loan-to-value (LTV) on eligible products.

This means that some applicants may be able to purchase a property with a 5% deposit.

However, not all credit profiles, property types or mortgage purposes qualify for the maximum advertised LTV.

Examples of a 5% Deposit

These figures illustrate a 95% LTV mortgage. They are not confirmation that Precise would approve the borrowing. Additional purchase costs and fees are excluded.

When Might a Larger Deposit Be Required?

Precise’s published information identifies additional LTV restrictions for certain transactions and circumstances.

• Active DMPs: up to 85% LTV.
• Remortgages involving debt consolidation: up to 90% LTV.
• New-build properties: up to 90% LTV.
• Interest-only mortgages: up to 75% LTV, subject to an acceptable repayment strategy.

Maximum loan sizes and product availability also vary according to LTV.

A larger deposit may reduce the amount borrowed, but it does not override credit scoring, affordability or other lending requirements.

How Much Can You Borrow With Precise Mortgages?

Precise advertises residential mortgage options with income multiples of up to six times qualifying income.

However, this is a maximum available under certain conditions rather than a standard borrowing amount for every applicant.

For illustration, six times income would produce the following figures:

These are mathematical examples only. They do not represent an affordability assessment or confirmation that Precise would lend these amounts.

Actual borrowing depends on accepted income, expenditure, existing financial commitments, dependants, mortgage term, product criteria and the lender’s affordability assessment.

Precise also publishes a minimum confirmed gross annual household income requirement of £10,000, including eligible pension income.

Precise Mortgages for Self-Employed Applicants

Precise considers self-employed mortgage applications, including circumstances where an applicant has only one year’s trading history.

This may be relevant to sole traders, partnerships and limited company directors who do not have the two or three years of accounts requested by some lenders.

Can You Get a Precise Mortgage With One Year’s Accounts?

Precise’s published criteria state that self-employed applicants must have been trading for at least 12 months.

One year’s accounts may be accepted, although this can restrict the products available.

Depending on the business structure, the lender may request:

• SA302 tax calculations and corresponding tax year overviews.
• Business accounts prepared by an appropriately qualified accountant.
• Personal bank statements.
• Additional evidence requested during underwriting.

Trading for 12 months does not automatically establish that the income is sufficient or sustainable.

How Does Precise Calculate Self-Employed Income?

Precise’s published criteria describe different income calculations depending on the applicant’s business structure.

• Sole traders: net profit.
• Partnerships: the applicant’s share of net profit.
• Limited company directors: salary and dividends.

The lender generally considers the latest year’s accounts where income is stable or increasing.

Where profits are less consistent, an average income calculation may be used, subject to underwriting requirements.

The treatment of income depends on the supporting evidence and the applicant’s circumstances.

Does Precise Accept Contractors and Non-Standard Employment?

Precise publishes criteria covering several employment arrangements beyond conventional permanent PAYE employment.

These include:

• Fixed-term employment contracts.
• Renewable contracts.
• IT contractors.
• Construction Industry Scheme (CIS) contractors.
• Certain zero-hours employment arrangements.

Fixed-Term and IT Contractors

Precise states that fixed-term and renewable contracts can be considered, subject to appropriate evidence.

IT contractors are also included within its accepted employment categories.

The lender may require evidence of contractual arrangements, employment history and income.

CIS Contractors

Precise’s published criteria state that CIS contractors, subcontractors and individuals responsible for their own tax and National Insurance are assessed under its self-employed requirements.

This means that the applicable self-employed income and evidence rules are relevant to the application.

Zero-Hours Contracts

Precise states that zero-hours contracts may be accepted where the applicant is not the main income earner.

This is an important restriction because the income of the main applicant and the overall household circumstances can affect the assessment.

Does Precise Accept Benefits and Other Income?

Precise’s published affordability criteria allow consideration of several additional income sources, subject to evidence and restrictions.

Examples include:

• Child Benefit.
• Certain Universal Credit elements.
• Personal Independence Payment (PIP).
• Disability Living Allowance (DLA).
• Child maintenance.
• Eligible pension income.
• Income from a second job.
• Certain rental income.
• Overtime, bonuses and commission.

The proportion accepted varies by income type.

For example, Precise publishes criteria allowing up to 100% of verified child maintenance income, while up to 50% of qualifying overtime, bonuses and commission may be used.

Evidence requirements and restrictions apply. An income source appearing on the lender’s accepted list does not mean it will be included automatically or in full.

Does Precise Mortgages Use Credit Scoring?

Yes. Precise confirms that residential mortgage applications are subject to internal credit scoring.

Although Precise is a specialist lender that considers certain adverse credit histories, it does not operate on the basis that all applications are manually accepted regardless of credit score.

The lender assesses the credit profile against its scoring and lending requirements.

This means that an applicant could fall within the published limits for defaults or CCJs but still be declined following the wider credit assessment.

Precise also states that a soft credit search is carried out at Decision in Principle stage.

What Types of Residential Mortgages Does Precise Offer?

First-Time Buyer Mortgages

Precise offers residential products for first-time buyers, including eligible applicants with complex credit histories or non-standard income.

Products up to 95% LTV may be available, subject to the applicant meeting all relevant requirements.

Home Mover Mortgages

Existing homeowners purchasing another residential property may be considered under Precise’s home mover products. The lender will assess the proposed purchase, existing mortgage commitments, credit history, deposit or equity and affordability.

Remortgages

Precise offers residential remortgage products, including options for borrowers seeking to replace their current mortgage or raise additional funds for purposes permitted by the lender.

Additional borrowing for debt consolidation may be subject to a lower maximum LTV than a straightforward remortgage. The published information referenced in this guide indicates up to 90% LTV for qualifying debt-consolidation remortgages, subject to current product requirements.

Consolidating unsecured debts into a mortgage means those debts become secured against your home. Although monthly repayments may fall, extending the term can increase the total interest paid and the risk to the property.

New-Build Properties

Precise publishes specific criteria for new-build properties. The product information used for this guide indicates a maximum of 90% LTV for eligible new-build applications, although property type, valuation and other restrictions may apply.

Interest-Only Mortgages

Precise’s published criteria also describe interest-only borrowing, subject to a suitable and acceptable repayment strategy. The information referenced here indicates a maximum of 75% LTV for qualifying interest-only applications. Applicants must meet the applicable income, equity and repayment-strategy requirements.

How Does a Precise Mortgage Application Work?

Precise residential mortgages are arranged through mortgage intermediaries. The application process generally involves the following stages:

1. Initial review: A mortgage adviser acting through an FCA-authorised and regulated network considers the applicant’s circumstances and available lending options.
2. Decision in Principle: The lender carries out initial checks, including its internal credit assessment. Precise states that a soft credit search is used at this stage.
3. Full application: The adviser submits the application and relevant information.
4. Supporting evidence: Income, credit, deposit and other documents may be requested.
5. Underwriting and valuation: Precise reviews the application and assesses the property for lending purposes.
6. Mortgage offer: If all requirements are satisfied, the lender may issue a formal offer.

A Decision in Principle is not a mortgage offer. Further checks, supporting evidence and the property valuation may affect the final decision.

Potential Advantages and Limitations of Precise Mortgages

Potential Advantages

• Published criteria covering certain defaults, CCJs and previous secured arrears.
• Consideration of active and completed debt management plans on eligible products.
• Residential products advertised up to 95% LTV for qualifying applicants.
• Consideration of self-employed applicants with at least 12 months’ trading history.
• Criteria for some contractors, non-standard employment and additional income sources.
• Higher income multiples on selected products, subject to conditions and affordability.

Important Limitations

• Internal credit scoring applies even when headline adverse-credit limits are met.
• Maximum LTVs and income multiples are not available to every applicant.
• Some recent credit events and property types may be excluded.
• Specialist mortgage rates and fees may differ from mainstream products.
• Document requirements and underwriting checks can be more extensive for complex cases.
• Meeting published criteria does not guarantee approval or a mortgage offer.

Frequently Asked Questions About Precise Mortgages

Is Precise Mortgages a bad credit lender?

Precise is a specialist mortgage lender with published criteria for certain adverse credit events, including defaults, CCJs, arrears and debt management plans. Acceptance depends on the product, internal credit scoring, affordability and the complete application.

Does Precise accept defaults and CCJs?

Its published residential criteria refer to consideration of up to five defaults and three CCJs registered within the previous 24 months, with restrictions including on events registered in the most recent three months. These are headline limits rather than guaranteed acceptance criteria.

Can you get a Precise mortgage with a 5% deposit?

Precise advertises eligible residential products up to 95% LTV, equivalent to a 5% deposit. The available LTV depends on the applicant’s credit history, product, property and other requirements.

Will Precise consider an active debt management plan?

Precise publishes criteria under which an active DMP may be considered, including a minimum period of satisfactory payments and an advertised maximum of 85% LTV. The full current product conditions must be met.

Can self-employed applicants apply with one year’s accounts?

Precise’s published criteria allow consideration of applicants with at least 12 months’ trading history, subject to the required evidence, product restrictions and affordability checks.

Can Precise lend six times income?

Some Precise residential products advertise borrowing of up to six times qualifying income. This is subject to product conditions and a full affordability assessment; it is not a standard entitlement.

Does Precise use credit scoring?

Yes. Precise confirms that residential applications are subject to internal credit scoring. Meeting the published criteria for an individual credit event does not mean the overall application will pass.

Does Mortgage Bridge recommend Precise Mortgages?

No. Mortgage Bridge is a mortgage introducer and provides general information and administrative support. It does not recommend lenders or products, assess eligibility, affordability or suitability, or provide mortgage or debt advice. Personalised mortgage advice is provided by an adviser acting through an FCA-authorised and regulated network.

Mortgage Bridge’s Role and Referral Disclosure

Mortgage Bridge provides general mortgage information and can introduce customers to mortgage advisers acting through FCA-authorised and regulated networks. Any information review by Mortgage Bridge is administrative only and does not constitute an assessment of eligibility, affordability or suitability.

Mortgage Bridge has commercial relationships with receiving firms and receives a percentage of the adviser’s commission when an introduced case completes. This does not mean Mortgage Bridge recommends Precise or has a commercial arrangement with Precise itself. An introduction does not guarantee a mortgage offer or completion.

Read more about Mortgage Bridge, our terms and conditions and our privacy policy.

Further Information and Sources

Mortgage criteria, product availability, rates and fees can change. The current Precise intermediary criteria and relevant product guide should be checked before relying on any numerical limit in this article.

• Precise Mortgages – Intermediary Lending Criteria
• FCA Handbook – Responsible Lending
• MoneyHelper – Free Debt Advice
• Information Commissioner’s Office – Credit Information

Last reviewed: 24 October 2026. This guide provides general information only and is not mortgage or debt advice, a personal recommendation or confirmation of eligibility. All lending is subject to the lender’s current criteria and assessment.

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