Precise Mortgages has launched an exclusive product with Positive Lending offering a refund of valuation fee on all bridging loans.

The refund is up to a maximum of £1500 and is available on all Precise Mortgages’ published bridging rates.

There is a minimum loan size of £250,000.

Paul McGonigle, managing director of Positive Lending, said: “With market leading rates from Precise coupled with lower set up fees this will allow clients and brokers to benefit from the most competitive pricing package coupled with market leading commissions from Positive Lending.

“The market is fierce and product enhancements such as this are welcome and I applaud Precise for recognising this.”

Alan Cleary, managing director of Precise Mortgages, said: “There isn’t much product innovation in the bridging market so we are testing whether brokers respond positively to product features we routinely offer in the mainstream market.

“Positive Lending are a leading packager in the bridging market as well as being one of our top Premier Panel members so it was a natural choice for us join up on this product.”