Precise Mortgages has unveiled its lowest-ever bridging rate of 0.54% per month.

The product is exclusively available through its Premier Panel members and is aimed at standard and light refurbishment deals up to 50% LTV.

The lender has also reduced rates on deals up to 60% from 0.74% per month to 0.64% per month.

Alan Cleary, managing director of Precise Mortgages, said: “We had our best ever year on bridging in 2016 and we intend to keep the momentum going.

“These are great rates and we expect them to be popular.”