Written by George Sweeney Reviewed by Lee Trett
Sources
6 July 2026
First Published
If you’ve just had your mortgage application declined by Precise Mortgages, it’s completely normal to feel stressed and frustrated. Getting rejected can be incredibly deflating, especially if you’ve already picked out a property.
However, a rejection from Precise doesn’t mean you won’t be able to get a mortgage. Here, we explain exactly how Precise assesses applications, the most common reasons they reject borrowers, and the practical steps you can take to ensure your next application is successful.
Why would Precise decline a mortgage?
Precise Mortgages is an intermediary-only lender, meaning it accepts mortgage applications only via mortgage brokers (rather than dealing directly with the public).
They’re a specialist lender designed to cater to borrowers with complex financial situations, such as those with past credit issues, self-employed applicants, or people with non-standard incomes. When Precise declines a mortgage, it means your financial profile, employment, or credit history doesn’t align with its lending criteria.
Usually, a decline from Precise happens because they uncover additional information during the full application process that falls outside their acceptable lending parameters.
Common reasons Precise declines mortgages
Every mortgage lender has areas where they are stricter than others based on their lending appetite and preferences. Based on Precise Mortgages' current lending criteria, here are five common missteps that frequently lead to declined applications:
1. Severe adverse credit
If you’ve had an Individual Voluntary Arrangement (IVA) in the past, Precise will only accept your application if it was discharged over 6 years ago. If your IVA was discharged more recently than 6 years ago, or if it’s currently ongoing, your application will be declined.
For bankruptcy, it’s a similar situation. Precise will decline your application if the bankruptcy was recent, but it is willing to consider applications if the bankruptcy was discharged over 6 years ago.
2. Recent defaults and CCJs
Precise is highly flexible with most bad credit issues, particularly with things like County Court Judgments (CCJs) and defaults. However, they will decline your application if any of those defaults or CCJs were registered in the 3 months immediately prior to your application.
3. Income and employment
Precise does have some specific rules around income and employment. For example, agency workers or those in a probationary period will be automatically declined. Also, they require the main applicant to have a minimum income of £10,000.
For those who are self-employed, Precise is quite flexible, requiring just 1 year’s accounts. However, they won’t consider retained profits in the affordability assessment, which could result in rejection if you attempt to overstretch your borrowing capacity.
4. Debt Management Plans (DMPs)
Precise will accept applicants who have been in a Debt Management Plan, but the terms are strict based on when it ended or if it’s a current DMP.
If your DMP was discharged less than 3 years ago, Precise will still consider your application; however, if it’s still ongoing, it must have been active for at least 12 months, and your loan-to-value (LTV) will be limited to 85%.
5. Age and loan term limits
Precise offers a maximum loan term of 40 years, and the minimum age to apply is 18. However, they do impose maximum age limits for the end of the mortgage term. The maximum age is generally 70, but this can be extended to 75 on a case-by-case basis. If your application falls outside these limits, it could be declined.
What to do if Precise has rejected you for a mortgage
Having a mortgage declined by Precise is a hurdle, but it’s rarely the end of the road. If Precise has rejected your application, follow these steps:
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Don’t immediately reapply: Making multiple mortgage applications will show on your credit file that you’ve been applying for additional credit in a short space of time; which can put off prospective lenders. Rushing into another application without fixing underlying issues might result in further rejections.
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Find out the reason: Ask your mortgage broker to speak with the Precise underwriting team. The key thing is to understand the exact reason for the decline so you can address the issue before reapplying with Precise or finding a more suitable lender.
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Check your credit reports: Download all your credit files from Experian, Equifax, and TransUnion. Look for any errors, linked addresses, or missed payments that you might have forgotten about. Your broker can help you evaluate and address any mistakes or issues.
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Speak to a specialist: A skilled broker wouldn’t have introduced you to Precise if they thought you would get declined. You should speak to a specialist broker who understands each lender’s criteria, meaning they’ll match you with the best lender for your specific financial profile and circumstances.
Get your mortgage back on track
Is Precise a strict mortgage lender?
Compared to standard high-street banks, Precise Mortgages is typically much more flexible. They’re explicitly designed to help borrowers who don’t fit the standard rigid criteria of mainstream lenders.
For example, their willingness to accept applicants with CCJs, defaults, and missed payments makes them far more lenient than many high-street competitors. They also offer generous income multiples and are highly accommodating to contractors and self-employed people with just one year of trading history.
However, they are strict when it comes to their absolute boundaries, such as their refusal to approve applicants with defaults or CCJs from the last 3 months, or an IVA discharged less than 6 years ago. Ultimately, whether Precise is strict depends entirely on your circumstances.
Why choose Money Helpdesk for your mortgage needs?
Having a mortgage application declined by any lender can be incredibly stressful, but it’s crucial to take a step back, seek expert support, and approach your mortgage borrowing more strategically.
Here’s why borrowers across the UK use Money Helpdesk when navigating a declined mortgage application:
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Access to specialist mortgage advisors and lenders
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Get matched with the most appropriate lender before you apply
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Expert guidance on complex income, self-employment, and credit issues
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Free initial chat with no obligation to proceed further
If you’ve been rejected by Precise Mortgages or want to explore your borrowing options with an expert mortgage advisor, you can get started with a free initial chat here.
FAQs
Yes, Precise will accept applicants with a DMP, but only under strict conditions. If the DMP is currently active, your borrowing is restricted to a maximum of 85% LTV, and the DMP must have been active for at least 12 months.
It depends on the type and severity of the credit, but Precise is willing to consider a wide range of bad credit applicants with various adverse credit issues.
However, they will generally decline the application if any defaults, CCJs, or arrears were recorded in the 3 months immediately before your application.
No. While many mainstream high-street lenders automatically decline self-employed applicants without at least 2 years’ trading history, Precise is much more flexible. They are willing to consider applications from self-employed individuals, sole traders, and company directors with just 12 months of trading accounts.
Yes, a decision in principle (DIP) only offers a preliminary assessment based on basic information. Precise might decline the full application if its underwriters uncover unacceptable property types (like certain concrete structures), untraceable deposit sources, or undisclosed recent credit blips that the initial automated check missed.
Yes, Precise specialises in adverse credit and will accept CCJs and defaults, provided they meet specific age and severity rules.