Precise Mortgages has completed a fast-tracked bridging loan to help a homeowner secure a new-build property while awaiting the sale of their existing home.

The specialist lender, part of OSB Group, provided short-term funding secured against the customer’s current residence, with the loan to be repaid from the proceeds of the sale.

The deal highlights the flexibility of bridging finance, which is often used for chain breaks and auction purchases but can also help homeowners manage the transition between properties.

The case benefited from recent policy enhancements at Precise, including wider use of automated valuation models (AVMs) designed to speed up processing times for brokers. Dual legal representation was also used, enabling completion from application to formal offer in just three days.

Alan Kimber (pictured), head of bridging at Precise, said: “Ross Williams and our dedicated bridging team worked closely with Sam O’Neill at KIS Bridging Loans to bring this bridge to completion.

“The customer needed a speedy solution as the developer required a quick completion. Utilising process changes made earlier this year helped us to provide the solution in a tight timeframe whilst also ensuring the customer had adequate time in order to exit.”

Sam O’Neill, senior bridging consultant at KIS Bridging Loans, added: “When a client tells you they need money in five working days and it’s a hard deadline, some people would jump for a lender who is heavier on price but offer speed in return.

“However, as a broker, you have a duty of care to your client and an obligation to get the very best option which considers both price and speed.

“Precise offered an AVM on this deal with joint legal representation and with the client fully engaged, the deal was funded with time to spare.”

Precise said the case demonstrates how recent changes to its bridging processes are helping brokers deliver faster outcomes for clients while maintaining competitive pricing.