Precise bridging exclusive available through Positive Lending

Published on

Precise Mortgages

Positive Lending has been chosen to distribute Precise Mortgages’ bridging exclusive.

A tranche of £5 million has been made available to fund standard and light refurbishment bridging at 1% per month at a maximum LTV of 75%.

Details are as follows:

  • Available at all LTVs in both Standard and Light Refurbishment
  • 1.00% per month.
  • Loans from £150,000.
  • Standard facility fee – 2%.
  • Standard proc fees – max 2.25%.
  • Free valuation up to £630 max
  • Available to FSA Regulated and Non-FSA Regulated loans.
  • Maximum tranche £5m.
  • Minimum term three months managed by underwriting.
  • Precise mortgages will bridge a bridge

Chris Fairfax, managing director, of the Bournemouth-based specialist packager, said, “The combination of high LTV, competitive interest and additional incentives, namely a free valuation, will make this product very popular.”

Alan Cleary of Precise Mortgages added” “This product should be excellent for borrowers who want to keep up front costs to a minimum and Positive Lending with their extensive broker connections are perfectly placed to distribute this product.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...

Atom bank breaks Near Prime record

Atom bank has reported another record-breaking month for Near Prime activity. Over the course of...

Berkeley Alexander appoints new BDM

General insurance provider Berkeley Alexander has announced the appointment of Grant Robinson as a...

Other news

Lenders must step up on high LTV products

Things are on the up for borrowers with a smaller deposit. The financial information...

Square 1 Media announces May Mortgage Market Debate

Square 1 Media is to hold its next Mortgage Market Debate on Wednesday, 21 May,...

Coventry BS maintains status as one of the best workplaces

Coventry Building Society has been named one of Great Place to Work's UK’s Best...