Precise launches bridging product with no facility fee
Precise Mortgages, the specialist lender, normally charges a 2% facility fee on all bridging loans but today has launched an exclusive bridging product that has no facility fee.
Procuration fees are paid on a trail basis over the life of the loan to a maximum of 2.50% of the net loan.
The product is only available via its Premier Panel, which consists of: 3mc; Brightstar Financial; Buildloan Ltd; TFC /Capital Advances; Only Bridging; Positive Lending; SPF Short Term Finance; Sterling Partners Finance Limited; and Voltaire Bridging.
Gareth Lewis, Director of Bridging for Precise Mortgages, commented:
"For those borrowers where a zero facility fee coupled with a slightly higher monthly rate makes good financial sense, this gives both the borrower and the broker increased choice."
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