Precise launches 'winter warmer' bridging product

The bridging product is for loans between £1m and £7.5m which has an interest rate of just 0.85% per month. The maximum loan size is capped at £7.5m, but the rate is applicable to any LTV up to 75% (subject to fitting lending criteria).

The product has been limited to a maximum tranche of £10m for standard bridging and light refurbishment products.  The Facility Fee is 2% as standard and broker procuration fees are up to 1.30%.  There is a minimum term of 3 months up to a maximum term of 18 months and the product is available for both regulated and non-regulated deals.

Alan Cleary, managing director of Precise Mortgages, says:

“Our Premier Panel of packagers and the networks and distributors have supported us brilliantly so this is partly to thank them as well as helping us all to write more bridging business over the winter months.”